A senior Democratic aide said the main problem with Boehner’s proposal on rates is that it would raise about $200 billion, not enough to meet Obama’s target for raising a total of $1.4 trillion in new tax revenue as part of a debt deals. Combined with Boehner’s offer to raise $800 billion in new revenue over a decade from a rewrite of the tax code, that would leave $1 trillion in tax revenue.
But for Democrats, the tax proposal also highlights past divisions in the party over the rates.
Boehner’s offer echoes past Democratic proposals for a millionaire’s surtax that have always been strongly opposed by the GOP and by many business trade groups in Washington. The latest proposal could drive a wedge in the Democratic caucus, as it resembles proposals that have drawn support from Democrats from states with high-income cities and suburban areas such as California, New York, Connecticut and Illinois. A number of Democrats from New York, for example, have pushed to raise the income ceiling for tax cut extensions to reflect higher average incomes in New York City and surrounding communities.
Leaders from military and veterans service organizations joined Sens. Roger Wicker, R-Miss., Kelly Ayotte , R-N.H., and Lindsey Graham, R-S.C., at a press conference to urge the Senate to replace a provision in the budget proposal that cuts retirement benefits for veterans. Wicker, Ayotee, and Graham earlier called for a bipartisan solution to replace the $6.3 billion in cuts to military retiree benefits.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.