Washington (CNN) - Republican National Committee Chairman Reince Priebus on Sunday said the proposed "Buffett Rule," backed by President Barack Obama, is a political maneuver meant to distract from his record on the economy.
Priebus said the rule, which would level a minimum tax rate on millionaires, amounts to "one single tiny alteration of the tax code" that will not make a significant dent in the budget.
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"This is Obama's strategy, look over here at this shiny object here, don't look at the big picture, an economy on a brink that I didn't do a thing about and made things worse," Priebus said on CNN's "State of the Union."
Obama spent much of the week making his case for the bill ahead of Monday's vote on the issue in the Senate.
Proponents of the proposal argue the change would constitute a fairer tax code, ensuring higher income earners, like investor Warren Buffett, do not pay a lower percentage of their income in federal taxes than middle-class households.
However, opponents of the law, including Priebus, point to the relatively low revenue expected from the rule. The change would bring in approximately $47 billion over the next decade, with an average of $4.7 billion per year.
"If you added up every dollar of revenue that this little rule would put into place, if you took every dollar over a year, it would add up to paying for 11 hours of the federal government," Priebus told CNN Chief Political Correspondent Candy Crowley. "I mean, come on."
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