On the recordMarch 25, 2010
the amendment I offer is simple. What we are doing is indexing for inflation the Medicare tax increase the majority has levied on the American people through this health care bill. Under the bill that is now law, Medicare taxes are going to jump .9 percent for certain income groups. This is about an $86 billion tax hike. My amendment aim is to contain the damage by indexing for inflation the wage thresholds for those subject to the tax increase. The amendment is very similar to what my friend from Kansas offered not too many amendments ago. It is a reminder that we have gone down this path before with the AMT. The AMT was not indexed for inflation. Today we have nearly 30 million taxpayers hit by the AMT tax. We deal with it every year through the AMT patch. I wish to make sure we are not repeating history.
