Posted on 05/24/2005 1:04:22 AM PDT by JohnHuang2
The alternative minimum tax (AMT) -- which one Democrat compared to the villain of "Star Wars" -- should be repealed this year, the chairman of the Senate Finance Committee said yesterday. Sen. Charles E. Grassley, Iowa Republican, said he would not wait for President Bush to propose reforms to try to do away with the tax, which was originally aimed at the very rich, but increasingly affects many middle-class families. "From my standpoint, AMT can be resolved in tax reform, but tax reform should not be the only avenue for resolution. I'll be looking for the earliest legislative opportunity to reform the AMT," Mr. Grassley said.
(Excerpt) Read more at washtimes.com ...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.