Kent Conrad: “You have the same pattern on the alternative minimum tax, as the Senator showed. Interestingly enough, that costs $658…”

“You have the same pattern on the alternative minimum tax, as the Senator showed. Interestingly enough, that costs $658 billion over the 10 years. The President only provides for 1 year in his budget--$23 billion. He shows the $23 billion necessary to keep this thing from cutting more and more into the middle class. In fact, we have 2 million or 3 million people affected by the alternative minimum tax. By the end of that 10-year period, 40 million people are going to be caught up in the alternative minimum tax. Boy, are they in for a big surprise. They thought they were getting tax cuts. They are going to get a whooping tax increase. What the President's budget does, and the budget from the Republican side in the Budget Committee, is just deal with this problem for 1 year.”