10 days ago under the leadership of Senator McConnell, the Senate voted to fix the AMT while stopping a Democrat-sponsored tax hike.
In an editorial yesterday, the Bowling Green Daily News praised the Senate AMT fix, and called on the House to pass the bill immediately.
The Senate has passed a bipartisan measure with 88 votes to provide a solution for this problem.
The House, however, doesn’t want to provide tax relief unless they make up the loss of tax revenue with a tax on others.
This is simply not justified - the government is now receiving AMT tax revenue from people who the tax was never intended to cover in the first place.
Unless the House and Senate can come to an agreement soon, tax refunds for millions of people will be delayed because changes in the tax code will have to be reprogrammed in the IRS computer system.
The House should join the Senate in passing a clean bill providing AMT tax relief and leave the question of finding additional tax revenue for another time.
The bottom line is that action is needed immediately on this most important matter.
You can read the entire Bowling Green Daily News editorial here.