WASHINGTON (AP) — Aiming tax increases at millionaires and companies that ship jobs abroad may help frame the fairness theme of President Barack Obama's re-election campaign, but it's a plan that stands virtually no chance of passing Congress.
Republicans have enough votes in the GOP-run House, and almost certainly in the Democratic-controlled Senate, to kill Obama's proposals. They say his ideas would discourage investment and job creation and further hurt an already ailing economy.
"He's got to know that none of those things he proposed really have much of a chance of going through both houses of Congress," said Sen. Orrin Hatch of Utah, top Republican on the Senate Finance Committee.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
