The alternative minimum tax will affect an additional 20 million families if it is not dealt with. In the budget resolution, we have a 1-year patch to prevent additional families from being hit. This is at a cost of some $62 billion. For the outyears, we are providing in this amendment for a reserve fund that is fully offset so it does not add to the deficit and debt. I ask my colleagues to support this amendment.
Discussing the impact of the alternative minimum tax and proposing a budget amendment.
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We admire that, and I can say on both sides of the aisle, people recognize the job he did as Budget Committee Chairman.
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