The assumption that was made in putting this budget together by the administration, by President Bush, was that Congress would act on the Alternative Minimum Tax, and, of course, we will. We are not going to allow that to lapse, which would result in an increase for 23 million people in the country, a tax increase, 70,000 in my district, I think the gentleman said 80,000 additional in his district. So, of course, we are going to deal with the AMT. It is tough. It is a difficult way to have to do policy, to do it year-to-year. It is probably not the best way. We made a tough decision in December, we will make another tough decision at the end of this year, and the President knows we are going are to have to do it and we are going to have to pay for it, because that is what we have to do. It is not included in the cost of this $3.1 trillion budget.
On the recordFebruary 6, 2008
Source
govinfo.govEditor's note · Context
Discussing the implications of the proposed $3.1 trillion budget and the Alternative Minimum Tax.
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