(Hartford, CT) – U.S. Senator Richard Blumenthal issued the following statement on the Paying a Fair Share Act, otherwise known as the Buffett Rule, which faced a procedural vote today in the Senate. The bill received fifty-one votes in favor of cloture, short of the sixty that were necessary to achieve cloture.
“I will continue the fight for the Buffett Rule, because it is a crucial first step toward tax fairness and reform and fiscal responsibility. The federal government should not subsidize millionaires and billionaires. A majority of Americans, including most millionaires, agree. This measure is a critical and necessary start toward creating a fairer tax code, and comprehensive reform to make our tax system simpler, fairer, and more effective. Very simply, people who make more than a million dollars a year should pay the same percentage of their income in taxes as middle class families like firefighters and teachers do. And today we have lost the battle, but not the war.”
# # #