Making Good Policy Out of a Bad AMT


 

Publication Date: October 2007

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): JD Foster

Research Area: Banking and finance

Keywords: Taxes; AMT patch; federal income tax; federal budget baseline

Type: Report

Coverage: United States

Abstract:

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.