Pelosi Wants to Scale Back Health Surtax

[Jake Stillow]

Source: Wall Street Journal

House Speaker Nancy Pelosi said she wants to limit a surtax House Democrats have proposed to pay for a health-care overhaul so that it wouldn't affect anyone making under $500,000.

Ms. Pelosi told the Politico newspaper in an interview published Monday that she believes the surtax as approved by the House Ways and Means Committee last week affects too many Americans, and she wants to scale it back.

"The Speaker has talked about her preference in meetings and in public that there could be more savings which could lead to a change in the surcharge," Pelosi spokesman Nadeam Elshami wrote in an email. "Discussions are ongoing as the legislative process moves forward."

The version approved by the Ways and Means panel would impose a 1% surtax, starting in 2011, on individuals making more than $280,000 and couples making more than $350,000. The rate would jump to 2% for individuals with income of more than $400,000 and couples earning more than $500,000.

Read more: http://online.wsj.com/article/SB124810411677265461.html

[Vidar]

1. Alms for the rich! Alms for the rich!