Making Good Policy Out of a Bad AMT
Publication Date: October 2007
Publisher(s): Heritage Foundation (Washington, D.C.)
Author(s): JD Foster
Keywords: Taxes; AMT patch; federal income tax; federal budget baseline
Coverage: United States
The majority party in Congress threatens to use extension of the alternative minimum tax patch as a ruse to raise taxes, which could leave a married AMT filer facing a tax increase of up to $5,026. Policymakers and the public need to expose this ruse, reject the tax hike, and turn to practical, substantive reform to end this pernicious tax.