Alternative Minimum Tax Archive

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  • Concerns about the State of the Economy Are Not a Good Reason to Waive Paygo for AMT Relief
    Aviva Aron-Dine
    December 6, 2007

    Several weeks ago, the House of Representatives passed legislation that would provide Alternative Minimum Tax relief for 2007, extend other expiring tax provisions, and offset the cost with various revenue-raising measures.  Some have argued that Congress should instead waive its Pay-As-You-Go (PAYGO) rules and deficit finance the cost of the AMT package.  …
  • The AMT's Growth Was Not "Unintended"
    Aviva Aron-Dine and Robert Greenstein
    November 30, 2007

    Various Administration officials, senators, and House members are urging Congress to waive its Pay-As-You-Go rules and deficit-finance the Alternative Minimum Tax (AMT) “patch.” The AMT’s explosive growth, they argue, was unanticipated and unintended, and so measures to prevent that growth should not have to be paid for.  Even if the AMT’s growth were unanticipated, …
  • House AMT "Patch" Bill is Fiscally Responsible
    Aviva Aron-Dine
    November 7, 2007

    Later this week, the House of Representatives is expected to vote on legislation that would “patch” the Alternative Minimum Tax for 2007 (H.R. 3996).  This analysis highlights three praiseworthy features of the tax package, which was adopted by the Ways and Means Committee November 1. The cost of the package is fully offset.  Its adoption by the …
  • What Would It Say about Congress’s Priorities to Waive PAYGO for the AMT Patch?
    Aviva Aron-Dine
    November 7, 2007

    In January the House of Representatives reinstated “Pay-As-You-Go” (PAYGO) budgeting rules, and in May the Senate followed suit.  PAYGO requires Congress to offset the cost of any legislation that increases entitlement spending or reduces revenues.  As a CBPP analysis released today explains, Congress to date has complied with the PAYGO rules.[1]  Both houses of …
  • Alternative Approaches to AMT Reform
    Aviva Aron-Dine
    Revised April 30, 2007

    The Subcommittee on Select Revenue Measures of the House Ways and Means Committee recently held hearings on the Alternative Minimum Tax, and Subcommittee Chairman Richard Neal has said he is developing a proposal for permanent, revenue-neutral AMT reform. According to news accounts, the proposal will take the form of an AMT …
  • The Alternative Minimum Tax, The President's Budget, and the Congressional Budget Resolutions
    Richard Kogan and Aviva Aron-Dine
    March 28, 2007

    This week, the House of Representatives will consider the budget resolution that the House Budget Committee approved March 22.  The House Budget Committee plan adheres to the Pay-As-You-Go (PAYGO) budget rules that have been in force in the House since January.  These rules require that the cost of any legislation that increases entitlement spending or reduces revenue be offset.  …
  • Why The Cost of AMT Relief Should Be Included in Estimates of the Cost of Extending the President's Tax Cuts
    Aviva Aron-Dine and Robert Greenstein
    Revised February 20, 2007

    The President’s budget estimates that extending the 2001 and 2003 tax cuts would cost $1.7 trillion over the next decade (2008-2017).  (A figure of $1.6 trillion has been cited by a number of media outlets, but this number leaves out the increased outlays that will result from extending the refundable tax credit expansions enacted in 2001; the Administration’s estimate of the …
  • Myths and Realities About the Alternative Minimum Tax
    Aviva Aron-Dine
    February 14, 2007

    The Alternative Minimum Tax was created in 1969 to ensure that the highest-income households could not exploit loopholes, exclusions, and deductions to avoid paying any federal income tax.  The AMT acts as a stop-gap tax system, with taxpayers owing their regular income tax or AMT liability, whichever is higher. Because …
  • Revenue Losses from Repeal of the Alternative Minimum Tax Are Staggering
    Aviva Aron-Dine
    Revised February 1, 2007

    As is increasingly well known, a growing number of taxpayers will become subject to the Alternative Minimum Tax over the next ten years if relief from the tax (which has been provided by Congress on a year-to-year basis) is not extended.  A growing fraction of those affected by the AMT will be middle- or upper-middle class families.  The Urban …
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