Kay Bailey Hutchison: “if we are not going to take up the major tax cut at this time, I am going to ask unanimous consent to take up the AMT.…”

“if we are not going to take up the major tax cut at this time, I am going to ask unanimous consent to take up the AMT. In 1969, when Congress passed the AMT it was supposed to affect 1 in 500,000 taxpayers who make over $200,000 a year. In fact, that is not the case today. By 2010, the AMT is expected to ensnare 32 million taxpayers, the majority of whom have adjusted gross incomes of under $100,000. In fact, this especially hits people with children. By the year 2010, among married taxpayers with two or more children, 85 percent of married taxpayers with two or more children in 2010 will face the AMT. It prohibits the ability to deduct for children. So I ask unanimous consent that the Senate proceed to the immediate consideration of Calendar No. 326, H.R. 4096, the alternative minimum tax relief. I ask unanimous consent that the bill be read a third time and passed, the motion to reconsider be laid upon the table, and that any statements related thereto be printed in the Record. The PRESIDING OFFICER. Is there objection?”