Mike Conaway: “I was also sitting with my older son, who is a broker with Merrill Lynch. And while his CPA was handing him his tax…”

“I was also sitting with my older son, who is a broker with Merrill Lynch. And while his CPA was handing him his tax return, he was going through it, looking at it and he suddenly discovered that he owed a relatively sizeable amount of alternative minimum tax. And we will go through that concept on another night, but this is a tax that is going to catch a growing number of middle-income Americans that is, in effect, a tax increase on him. So once he discovered that he had now become subject to the alternative minimum tax, he was, shall I say, less than pleased with that number and is looking forward to this Chamber addressing the alternative minimum tax as a part of the overall tax fix. We are trying to come up with a tax scheme that collects the minimum amount of money needed to fund this Federal Government.”