In the EEB'sview, what is neededisasummitagreement on a 10% shift in tax income in tenyears, fromLabour to energyandenvironment, and on aminimum levelofco-ordination to achieveit.
The president's plan would cap payments on federal loans at 10% of a borrower's income above a set minimum, defined as 150% of the poverty level for the borrower's family, and allow loans to be forgiven after 20 years instead of 25.
One implication of the Buffett rule is that all millionaire investment income would be taxed at the shareholder level at a minimum rate of 30%, up from 15% today.