Brown applauds Senate for backing Obama’s move on millionaires

Australian Greens Leader Bob Brown congratulates the Senate for supporting President Barack Obama's push for a millionaire's tax.

The Greens today moved the following motion which was passed by the Senate:

The Senate supports moves by President Obama to close tax loopholes for those earning a million dollars a year, ensuring that millionaires pay a minimum rate of tax that at least matches that of middle-class families.

"A proposed millionaires' tax, or 'Buffett rule', adopted as policy by the Australian Greens in 2010 would create a new marginal tax rate of 50% on annual income of more than $1 million," Senator Brown said.

"We congratulate the Senate for supporting President Obama's efforts to make sure that the wealthy pay a fair share towards health care, education, infrastructure and other services," Senator Brown said.