Obama Urges Congress to Pass 'Buffett Rule'

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　　It is named after one of the world's richest men, investor¹ Warren Buffett, who says it is not fair that he pays a lower tax than his secretary.

　　During his weekly address Saturday, the president urged Congress to approve the legislation during a planned vote next week.

　　Under the Buffett Rule, anyone earning more than $1 million would pay at least the same percentage of income taxes as middle income wage earners.  The president says families earning less than $250,000 per year - 98 percent of American families - should experience no increase in their tax rate.

　　Obama rejects claims by critics that the Buffett Rule impedes² job growth.

　　In the Republican address, Congressman³ Fred Upton charged the Obama administration's energy policies have increased the country's dependence⁴ on foreign oil with the rejection⁵ of a pipeline⁶ project that would run from Canada to the U.S.

　　Upton urged the administration to consider his party's American Energy Initiative that aims to cut gas prices and create jobs.

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