WASHINGTON ? President Barack Obama's Democratic allies in the Senate are promising to press ahead this year with his proposals to require millionaires to pay at least 30 percent in taxes and curb tax preferences for companies that ship jobs overseas.
Senate Democratic leaders promise votes soon on such tax "fairness" initiatives, which a key theme of Obama's State of the Union address Tuesday night.
The move would build on last year's drive to renew the payroll tax cut. It comes immediately after GOP presidential candidate Mitt Romney revealed that he pays an effective tax rate of less than 15 percent despite income exceeding $20 million a year.
Sen. Charles Schumer, D-N.Y., said the decision by Republicans to embrace the payroll tax cut despite widespread reservations bodes well for the upcoming debate.
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