Sunday, December 9, 2007

Congress and the AMT

The House of Representatives has passed a patch to the IRS code to prevent the Alternative Minimum Tax (AMT) from hitting millions of taxpayers this year, but raising $80 million in new taxes to "pay for" this "tax reduction." The Senate has passed a similar bill but, thanks to the Senate Republicans, without the attached tax increase.

Message to Congressional Democrats: Blocking the AMT is not a tax reduction that needs to be offset. It is merely preventing a big tax increase.

No comments: