Taxes

Sarcastic House Bill Would Allow Taxpayers to Donate Extra to Treasury

Your move, Mr. Buffett

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Feel your taxes are too low? House Republicans have devised a new convenient way for those worried about government red ink to donate more to the Treasury.

And in a dig at President Barack Obama and his favorite billionaire, they have named the bill the Buffett Rule Act after investor Warren Buffett, who has said that he and other wealthy people don't pay enough in taxes.

The legislation, approved in the House on Wednesday and heading for an uncertain fate in the Senate, creates a checkbox on tax forms allowing taxpayers to make donations above their normal tax liability for debt reduction.