–Senate Majority Leader: Millionaire Surtax To Pay For Jobs Bill
–Sen. Reid: Must Pass Senate China Currency Bill Quickly
–Sen. Schumer: China Bill Is ‘Religiously Bipartisan’
By John Shaw
WASHINGTON (MNI) – Senate Majority Leader Harry Reid and the other
members of his Democratic leadership team Wednesday said the Senate
should pass currency legislation this week and then take up jobs
legislation as early as next week.
At a briefing, Reid, Senate Majority Whip Dick Durbin and Sen.
Chuck Schumer, all said prompt Senate passage of China currency
legislation is important and then the Senate should take up a revamped
version of President Obama’s jobs bill.
The Democratic leaders blasted Senate Minority Leader Mitch
McConnell for saying he would like an immediate vote on Obama’s jobs
bill as part of the China currency debate.
Reid called McConnell’s suggestion “disingenuous” and “cynical”
while Schumer called his proposal “subterfuge.”
Reid said the currency bill is necessary because of China’s “unfair
manipulation of its currency.”
Schumer said the China currency bill is “religiously bipartisan”
and has “broad, broad support in Congress.
“Let’s get this done (the currency bill) and move immediately to a
jobs bill,” Durbin said.
On the jobs bill, Reid praised Obama’s $447 billion jobs package as
a good plan but said he will offer a new package of offsets including a
proposed surtax on the wealthy.
Reid said his proposal to levy a surtax on millionaires by raising
the top marginal from 35% to 39.6% would raise enough money to pay for
the Obama jobs plan.
Reid said he welcomes Republican ideas on the jobs bill. “I look
forward to amendments,” he said.
** Market News International Washington Bureau: (202) 371-2121 **
[TOPICS: M$U$$$,MFU$$$,MCU$$$]
