Taxing The Wealthy, American Jobs Bill | featured news

Democrats and GOP reach a rare bipartisan agreement on jobs plan as Democrats toss out surtax on millionaires and Senate easily clears procedural hurdle Monday, pointing to passage of legislation later this week.

Senate Democrats proposed Friday tax incentives for businesses hiring veterans as well as job training for all service members leaving the military. The measure was unveiled as the next piece in President Obama's jobs bill and as a remedy to unemployment among veterans.

Senate Democratic leaders are proposing a 5% surtax on those earning $1 million a year as a new way pay for President Obama's jobs plan, turning to an issue with populist appeal as they line up support for a vote, possibly next week.