U.S. Sen. Jeff Bingaman (Dem.) voted for the Paying a Fair Share Act yesterday, April 16. The Fair Share Act also know as the Buffet Rule, taxes Americans earning more than one million per year at a rate of 30 percent. This bill was defeated by 51-45, it needed 60 votes total to move ahead to a full Senate debate. According to the press release the bill would have taxed the one percent at the same tax rate that middle class families currently are paying Uncle Sam.
"Our country faces a very serious deficit problem. If we are going to take a balanced approach to restoring fiscal security, I believe we must bring fairness to the tax code, " states Bingaman in the press release.
"Our country faces a very serious deficit problem. If we are going to take a balanced approach to restoring fiscal security, I believe we must bring fairness to the tax code, " states Bingaman in the press release.
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