Reid wants 5% millionaire surcharge to pay for Obama's jobs bill

Senate Democrats intend to jettison provisions that President Barack Obama recommended to pay for his jobs bill and substitute a tax surcharge on millionaires, officials said Tuesday, hoping to unify the party for a protracted political struggle with Republicans.

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Senate Majority Leader Harry Reid, D-Nev., outlined plans for a 5 percent surcharge in a closed-door meeting with the rank and file, according to participants, as Obama traveled to Texas to deliver his most caustic challenge yet to House Republicans who have not allowed a vote on the legislation unveiled nearly a month ago…

Democrats said Reid’s proposed millionaires’ surtax was designed to quell much if not all of the opposition from his own rank and file, a subject that Sen. Dick Durbin of Illinois, the second-ranking leader, referred to in an interview with reporters.

“We’re also obviously going to work on the number of votes to support it. It may not be the exact plan offered by the president, but I think he, when he presented it to us, said that we need to be open to some variations and modifications,” Durbin said.

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