View Full Version : Senate Rejects Obama’s Tax Plan, Setting Stage for Deal

12-04-2010, 07:35 PM
— The Senate on Saturday rejected President Obama’s proposal to end the Bush-era tax breaks on income above $250,000 for couples and $200,000 for individuals, strengthening the hand of Republicans who have long called for continuing the income tax cuts for everyone.

The Senate also rejected an alternative proposal, championed by Senator Charles E. Schumer, Democrat of New York, to end the tax breaks only on income exceeding $1 million.

Republicans voted unanimously against both proposals, and Democrats said it showed that they were siding with “millionaires and billionaires” over the middle class. Republicans said they were refusing to let taxes rise on anyone given the continuing weakness in the economy.