Senate rejects consideration of ‘Buffett rule’ tax increase for millionaires

http://www.washingtonpost.com/politics/senate-rejects-consideration-of-buffett-rule-tax-increase-for-millionaires/2012/04/16/gIQAouHOMT_story.html

The Senate rejected consideration Monday of the “Buffett rule ,” a key election-year Democratic initiative that would impose a minimum tax rate on those making more than $1 million per year, as a philosophical debate over taxes that will define this year’s elections occurred on Capitol Hill.

Democrats were unable to get the 60 votes necessary to break a filibuster and proceed to a full consideration of the measure, with the Senate voting 51 to 45 to move ahead. The vote was largely along party lines, although Republican Sen. Susan Collins (Maine) voted with Democrats to allow the measure to proceed and Democratic Sen. Mark Pryor (Ark.) voted to block it.