Dems Buck Obama on Tax Cuts, Say $250K Too Low

Critics are lining up against President Obama's push to let the Bush tax cuts expire for the top 2% of earners—and that's just in his own party. Democrats facing elections this fall are breaking with the president, arguing that Obama's proposed $250,000 threshold is too low, Politico reports. Congressional Democrats have been focusing on raising taxes for those earning more than $1 million, and now some, like Florida Sen. Bill Nelson and North Dakota Senate candidate Heidi Heitkamp, say that's still the right move.

The so-called "millionaire's tax," Steny Hoyer explained, would "be a metaphor for how our Republican colleagues won't support increasing revenues on any person in America, no matter how much they make." Virginia Senate candidate Tim Kaine, meanwhile, is pushing for a $500,000 threshold, which some are signing on to. That's not to say Obama is without allies: Harry Reid and Nancy Pelosi have formally supported his plan, as have several others, including former holdout Charles Schumer. (More Bush tax cuts stories.)