May 11, 2011 / 7:13 PM / 9 years ago

Senate Democrats weigh 3 percent tax on millionaires

WASHINGTON (Reuters) - People who earn more than $1 million per year would face a 3 percent surtax under a plan that has been floated by the Senate’s top budget writer, a congressional source said on Wednesday.

That plan, which is being drafted by Democratic Senator Kent Conrad, would allocate $34 billion less than President Barack Obama has requested for national parks, education and other domestic discretionary programs which have their funding levels set annually by Congress, the source said.

Reporting by Andy Sullivan; Editing by Jackie Frank

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