11 days ago under the leadership of Senator McConnell, the Senate moved to fix the AMT while preventing a proposed Democrat tax hike.
Today House leadership made it clear they are in no hurry to fix the AMT. If they continue to do nothing, 23 million Americans including 174,000 Kentuckians will be hit with a massive tax hike.
According to The Hill newspaper:
House Majority Leader Steny Hoyer (D-Md.) hinted Tuesday that Congress may not be able to stop a big tax increase from hitting 23 million Americans.
Hoyer, pressed on whether Congress would resolve disputes over the Alternative Minimum Tax (AMT), said, “Maybe.”
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An AMT patch must be passed soon to avoid a big tax hike. By waiting as long as they have, lawmakers have already raised the risk of a tax-filing mess that could provide fodder for political attacks. The IRS says it needs seven weeks from the time the president signs the AMT patch into law to update its forms and re-program its computers.
You can read the entire story here.
Congress must act immediately to repeal the onerous AMT, and we must do so without raising additional taxes. Anything less is irresponsible.