House Democrats have proposed employing a new surtax for
"wealthy" individuals to pay for a portion of their more than $1
trillion health care reform bill—H.R. 3200, America's
Affordable Health Choices Act of 2009. With this proposal, the
battle regarding federal tax policy in the post-Bush era has begun,
and there is quite a bit at stake for many small businesses and the
As approved by the House Ways and Means Committee, H.R. 3200
would levy a surtax between 1 and 5.4 percent on the modified
adjusted gross income of individuals earning more than $280,000 and
families earning more than $350,000 per year. The surtax would take
effect in 2011 and is estimated to bring $544 billion to the
federal government during 10 years. If reforms in other parts of
the bill do not produce a designated amount of savings by 2012,
some of the surtax rates would increase in 2013.
President Obama endorsed the proposed surtax during his July 22
press conference, saying it "meets my principle that it is not
being shouldered by families that are already...
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