Tax Fairness, the 2001-2006 Tax Cuts, and the AMT: Testimony before the U.S. House Committee on Ways and Means

Publication Date: September 2007

Publisher: Tax Policy Center

Author(s): Leonard E. Burman

Research Area: Banking and finance

Keywords: Economy; Income and Wealth Distribution; Tax Policy; Tax Distribution and Economic Trends

Type: Report

Abstract:

In this testimony Burman discusses the issues of tax fairness, the 2001 to 2006 tax cuts, and the individual alternative minimum tax. Burman argues that while the federal tax system mitigates economic inequality, the recent tax cuts have disproportionately benefited those at the top, while also increasing the number of people potentially subject to the AMT. He concludes with a brief discussion of how to fix the AMT in a fiscally responsible manner.