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Politics : Politics for Pros- moderated

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From: LindyBill	5/15/2008 12:18:15 AM
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Opponents Lining Up Against Democrats? Surtax Plan WASHINGTON WIRE WSJ. In Congress Sarah Lueck reports on Congress. Opposition is building to House Democrats? proposal for a surtax on wealthy people to fund new veterans benefits. The proposal, part of a war-funding bill up for a House vote Thursday, would impose a 0.5% tax on incomes over $500,000 for individuals and incomes over $1 million for couples. The more than $50 billion over 10 years generated by the tax would be used to expand education benefits for veterans. The proposal is expected to pass the House, but not the Senate. House Republicans are sharpening their criticism of the plan, saying that 83% of those targeted by the tax are small-business owners who include their business income on their personal tax forms. ?American taxpayers know that Washington has a spending problem, not a revenue problem,? said a statement from the office of House Republican Whip Roy Blunt of Missouri. The Tax Relief Coalition, made up of anti-tax advocates and business groups, sent a letter urging lawmakers to vote against the plan.

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