Republicans Defeat "Sock it to the rich" Tax Hike Plan

Republicans voted unanimously against the plan. They were joined by four Democrats.

WASHINGTON — The Senate on Saturday rejected President Obama’s proposal to end the Bush-era tax breaks on income above $250,000 for couples and $200,000 for individuals, a triumph for Republicans who have long called for continuing the income tax cuts for everyone.

The Senate also rejected an alternative proposal, championed by Senator Charles E. Schumer, Democrat of New York, to end the tax breaks only on income exceeding $1 million.