Democrats Should Simply Repeal the AMT (Rep. David Camp)
June 19th, 2008
We could have and should have been voting on an AMT fix that doesn’t punish job providers today for a mistake made by a Democrat Congress nearly four decades ago. It is bad enough that millions of middle class Americans have been erroneously forced to pay higher taxes under this law, but simply shifting those taxes onto other sectors of the economy only adds insult to injury.
The Majority, however, didn’t stop there. Beyond just raising taxes, they specifically raised taxes on domestic energy companies while exempting their foreign competitors. That is worth repeating: the Democrat AMT bill raises taxes on American oil and gas companies while giving tax breaks to foreign oil and gas companies.
This is absolutely the wrong way to solve the AMT problem. The Majority should simply repeal the AMT as Republicans did in 1999.
Permalink | Comment on this post (0)
By
