Senator Chuck Schumer pushes tax hikes on wealthy

Posted at: 10/09/2012 2:43 PM
By: Associated Press | WHEC.com

Senator Chuck Schumer is pushing to raise taxes on the wealthy while preserving many tax breaks benefiting the middle class in a challenge to a traditional tax reform model that lowers tax rates for all and finances the cuts through a broad assault on tax breaks and loopholes.

Schumer says any money from curbing tax breaks should go to reducing the deficit. He also says the top tax rate should go back to Clinton-era levels.
    
Schumer says proposals by Mitt Romney and others to cut tax rates across the board would inevitably end up boosting taxes on the middle class because policymakers would have to slash deductions and credits that benefit the middle class, like breaks for mortgage interest and college savings.

Have a story you want our news team to investigate? Call us at 585-232-1010, click here to send us an e-mail or leave us a Facebook post or tweet.

Print Story