Dems Buck Obama on Tax Cuts, Say $250K Too Low

Tax debate, election year politics, divide party

By Kevin Spak,  Newser Staff

Posted Jul 10, 2012 7:50 AM CDT

(Newser) – Critics are lining up against President Obama's push to let the Bush tax cuts expire for the top 2% of earners—and that's just in his own party. Democrats facing elections this fall are breaking with the president, arguing that Obama's proposed $250,000 threshold is too low, Politico reports. Congressional Democrats have been focusing on raising taxes for those earning more than $1 million, and now some, like Florida Sen. Bill Nelson and North Dakota Senate candidate Heidi Heitkamp, say that's still the right move.

The so-called "millionaire's tax," Steny Hoyer explained, would "be a metaphor for how our Republican colleagues won't support increasing revenues on any person in America, no matter how much they make." Virginia Senate candidate Tim Kaine, meanwhile, is pushing for a $500,000 threshold, which some are signing on to. That's not to say Obama is without allies: Harry Reid and Nancy Pelosi have formally supported his plan, as have several others, including former holdout Charles Schumer.

Virginia Democratic Senate candidate, former Gov. Tim Kaine addresses the Northern Virginia Technology Council's Tech Town Hall in Reston, Va., Thursday, June 28, 2012.
Virginia Democratic Senate candidate, former Gov. Tim Kaine addresses the Northern Virginia Technology Council's Tech Town Hall in Reston, Va., Thursday, June 28, 2012.   (AP Photo/Cliff Owen)
President Barack Obama arrives with Sen. Bill Nelson, D-Fla., left, at the Orlando International Airport, Feb. 23, 2012.
President Barack Obama arrives with Sen. Bill Nelson, D-Fla., left, at the Orlando International Airport, Feb. 23, 2012.   (AP Photo/Susan Walsh)
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