Collins offers amendment to raise tax rates on ultrawealthy earners

[Yo_Mama_Been_Loggin]

Maine Sen. Susan Collins (R) has filed an amendment to the One, Big Beautiful Bill Act that would raise the marginal tax rate on individuals who earn more than $25 million per year and couples who earn more than $50 million per year.

The amendment has a tough path to getting a simple majority vote, although Sen. Roger Marshall (R-Kan.) told reporters Monday morning he would back it.

The amendment would create a new 39.6 percent tax bracket for individuals earning more than $25 million and couples earning more than $50 million and allocate the money toward doubling the rural hospital relief fund, which is now funded at $25 billion in the bill.

Collins’s amendment would double the size of the rural hospital relief fund to $50 billion.

https://www.yahoo.com/news/collins-offers-amendment-raise-tax-144832919.html

Good idea that will probably die.

[bucolic_frolic]

1. Wow. She must be really worried. /nt

[Mordred]

2. She is indeed worried

about being re-elected next year. She likely doesn't care if it succeeds or not, it's a campaign posturing move to keep Maine voters from swinging away from her.

[SleeplessinSoCal]

4. It might have a chance

Murkowsky, Paul, Tillis and herself. Is that enough to add an amendment if all Dems vote for it?

[babylonsister]

9. Yea, she actually did her job. And we're shocked! nt

[dweller]

3. Again

Pull the other one , Susan
It has bells on it …

now she can say she tried
and then vote ‘aye’





✌🏻

[TomSlick]

13. Exactly.

Susan is grasping for a fig leaf. She knows her amendment doesn't have a chance but now she can say she tried - and vote for the bill.

We've seen this movie before.

[hamsterjill]

19. You are SO right.

We've seen the movie so much that most of us can mouth the dialogue without subtitles.

[chelsea0011]

27. She had the nerve to call Dems hypocrited

for not supporting her worthless amendment. Hey, just vote no on bill and you still get what your amendment asked.

[senseandsensibility]

5. What's she gonna do when the Rs won't vote for it?

My bet is shrug and vote for the big ugly bill.

[Silent Type]

6. Good idea, but that would probably raise less $20 Billion a year. Still a good precedent.

A 5% tax increase proposed in 2022 on a lower income threshold ($10 M) produced only $23 B in additional tax revenue.

https://www.americanprogress.org/article/the-millionaire-surcharge-would-improve-the-fairness-of-the-tax-code/#:~:text=The%20millionaire%20surcharge%20included%20in,22%2C000%2C%20would%20pay%20this%20surcharge.

[OrlandoDem2]

7. We need a Democrat who can beat the snot out of her. She's a phony!

[Grins]

8. Another shiny object for the MAGA idiots...

Top tax rate goes up from 37% to 39.6%? A whopping 2.6 points?? Brutal, man, brutal.

Put it back to 50% - where REAGAN had it! - on everything over, say, $600K, and maybe we can talk.

This is just another shiny object to swing in front of the blank, dead-eyes of the unwashed MAGA.

And dead-on-arrival.

In January 2001 - BEFORE the smirking dry drunk selected by the SCOTUS was even inaugurated - budget surpluses became a dirty word and had to be stopped!!!

Another Maine Senator, Olympia Snowe, being a bit more rational, offered an amendment to the GOP’s tax bill that would add “triggers” automatically killing the tax cuts if the GOP’s ass-pulled revenues projections failed to appear.

Other “fiscally responsible” Republicans PUBLICLY gave lip service to the idea. Greenspan - endorsed the idea.

In the end - they all voted against it!

After all, they are Republicans…

[SSJVegeta]

10. Somebody needs to make a 70% bracket for the wealthisest Americans

And create free public college out of it. Or at least propose it to see who votes it down.

[hatrack]

11. No, ass-covering serving double duty as distraction . . .

How about 60%, Susan? Maybe 75%?

How about something a bit beefier than you farting in a Category 5 hurricane and claiming that it sounds like Gabriel's horn?

[TomSlick]

14. Not to worry.

The amendment doesn't stand a snowballs chance in hell. The whole purpose of the bill is tax breaks for the obscenely rich.

[TomSlick]

16. The whole thing is beyond me.

Why are GOP senators and representatives voting to strip medical care from their constituents and close hospitals in their states?

The level of political malpractice is breath taking.

[TomSlick]

18. That's clearly what they believe. I just don't think they're correct.

Their constituents are only now beginning to realize what this monstrosity of a bill will do. Just wait until they lose their health coverage, the local hospital closes, and the nursing home calls to say that Granny is being evicted.

[W_HAMILTON]

25. Republicans are propagandists -- they will claim that regardless.

[DET]

21. It Will Fail

Apparently Republicans just voted down a proposed amendment to exempt kids under twelve from cuts to food aid. I can see the ads now.

[Iamscrewed]

22. It's not enough!

[Gimpyknee]

23. Collins will clutch her pearls and definitely vote for this horrible bill.

[Marcuse]

24. In the MAGA "Leave It To Beaver" years the top marginal tax rate was 70%.

[LonePirate]

26. It failed 22-78. Dems Ossoff, Warner and Warnock along with Independent King voted with 18 Repubs in the failed vote.