Senate Fumbles on AMT Reform
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Senate Majority Leader Bill Frist has indicated that the Senate will probably not take up AMT reform (let alone AMT abolition) this year:
From 155 taxpayers in 1969 to almost two-thirds of all taxpayers making less than $100,000 in 2010.
That's hardly what most people would consider an "alternative."
More thoughts at Government Bytes.
"I feel strongly that capital gains and dividends should be in the bill when it comes back to the Senate floor," Frist told reporters. Of the minimum tax, he said that "in all likelihood, we'll not be able to finalize that until we get back" in 2006.On the other hand, when another 18 million or so middle-class taxpayers get hit with the AMT starting in 2006, I suspect that they will be the ones who "feel strongly" about which is more important — tax rates on capital gains and dividends, or fixing the monstrous AMT.
From 155 taxpayers in 1969 to almost two-thirds of all taxpayers making less than $100,000 in 2010.
That's hardly what most people would consider an "alternative."
More thoughts at Government Bytes.
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Posted by Kip on
14 December 2005
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