Obama's Buffett Rule on taxes for rich blocked in Senate

Reuters News
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Posted: Apr 16, 2012 6:33 PM
Obama's Buffett Rule on taxes for rich blocked in Senate

WASHINGTON (Reuters) - Senate Republicans on Monday blocked President Barack Obama's "Buffett Rule" legislation, which would have put a 30 percent minimum income tax on millionaires.

In a mostly party line vote, Democrats, as expected, failed to garner the 60 votes needed in the 100-member Senate to move forward to a full debate and vote on the bill.

(Reporting By Donna Smith; Editing by Sandra Maler)