The Hill News

A coalition including top business groups is urging lawmakers to oppose the millionaire’s surtax that Senate Democrats are proposing to pay for President Obama’s jobs package.

The Tax Relief Coalition â€" which includes, among others, the U.S. Chamber of Commerce and the National Federation of Independent Business â€" said the proposed surtax, combined with other possible tax changes, would give millionaires a punitive tax bill.

“In sum, the Senate legislation would pay for the president’s jobs bill by raising tax rates on hundreds of thousands of business owners, a job killing tax hike to pay for a bill purported to strive for job creation,” the coalition wrote in a Friday letter to senators.

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