GOP rejects Democratic AMT deal

thehill.com ^ | 12/6/07 | Jessica Holzer

[paltz]

Republicans have rejected a request by Majority Leader Harry Reid (D-Nev.) that the Senate approve by unanimous consent a one-year patch to the Alternative Minimum Tax (AMT) with no accompanying tax increases.

Democrats quickly made political hay of the GOP move, which contradicted earlier Republican calls for extending tax relief with no offsets.

Sen. Max Baucus (D-Mont.) blamed Republicans for obstructing tax relief, and called Reid’s request a “huge concession” on the part of Democrats. “If the AMT hits more taxpayers next year, it’s because of the Republican caucus. That’s clear,” said Baucus, who chairs the Senate’s tax-writing committee.

Sen. Judd Gregg (R-N.H.), speaking on behalf of Republicans, objected, but said he thought a deal could still be worked out “hopefully sooner rather than later.”

A GOP aide said Gregg objected to give senators time to consider the request.

Reid’s request came after Republicans blocked a procedural vote to debate an $81 billion House-passed measure shielding millions from the AMT for one year and extending a package of popular tax breaks. The House bill included tax increases on businesses to pay for the tax relief.

Both Republicans and Democrats are under pressure to pass a one-year AMT patch this year, since if they fail 19 million filers will be hit by the creeping tax. The “extender” package is also considered must-pass legislation, though it’s not quite as urgent as the AMT.

The two parties disagree over whether to “pay for” the tax relief by attaching revenue offsets, with Democrats strongly preferring to stick with heir pay-go budget rules and Republicans balking at instituting any new axes to extend current relief.

After forcing Democrats to agree to a “clean” one-year AMT patch with no offsetting tax increases before the Thanksgiving break, Republicans then voiced opposition to offsetting the extenders. They also demanded votes on instituting a flat tax, permanently repealing the AMT and extending the Bush tax cuts.

Speaking on the Senate floor, Reid said he planned to request a vote on the one-year patch again later on Thursday afternoon.

[xcamel]

“one year patch”... what a moron. The AMT needs to be killed, completely, and for good. The Dimwits will try anything to make the GOP look bad on this issue.

[Virginia Ridgerunner]

[tubebender]

My wife and I have reached a age and income level that allows us to donate to our favorite causes but we have to vet every action with our CPA to avoid getting trapped by the AMT...

[Nuc1]

The AMT needs to be killed, completely, and for good.

Yep.

[calex59]

Sen. Max Baucus (D-Mont.) blamed Republicans for obstructing tax relief, and called Reid’s request a “huge concession” on the part of Democrats. “If the AMT hits more taxpayers next year, it’s because of the Republican caucus. That’s clear,” said Baucus, who chairs the Senate’s tax-writing committee.

Typical Dem move, put up a bill that is totally unacceptable and then blame the Republicans for not passing it. They knew the pubbies would turn it down and did this for political gain. These rat bas***** can't do anything for the people or the country, it is always about their power grab.

[FMBass]

Amazing how the Democrats want to raise taxes to replace revenue from a tax source that they weren’t supposed to be getting it from in the first place.

Also amazing that it wasn’t mentioned until the 6th paragraph that “The House bill included tax increases on businesses to pay for the tax relief”.

[Man50D]

It's time to end the tinkering. A fundamental change need to take place by replacing federal income taxes with The Fair Tax Act. See Americans For Fair Taxation for more information. Fair Tax ping!

[xcamel]

Well well, didn’t take them long to hijack this thread...

[Ronaldus Magnus Reagan]

I’m stunned that the Democrats still havn’t heard of dynamic scoring. Or perhaps they ignore it because those facts don’t fit their agenda of wealth redistribution.

[Brilliant]

Let the Dems push this thru on their own.

[tobyhill]

Hey Baucus Butthead, you’re in the majority, it’s on you the same way your obstruction was on the Republicans when they were majority.

[MaxMax]

“The House bill included tax increases on businesses to pay for the tax relief”.

They would've run with this for the next 20-years, "Republicans Raise Taxes".
Everything they do is a trap. Screw them and the MSM.

[xcamel]

Screw them indeed. The Rep plan was to kill it once and for all.

[Doohickey]

Fair Tax is mentioned in the article so why is pinging the relevant list not apropos here?

[xcamel]

No, it wasn't.

"Republicans then voiced opposition to offsetting the extenders. They also demanded votes on instituting a flat tax, permanently repealing the AMT and extending the Bush tax cuts."

[groanup]

You have to understand. First x hijacks the thread by claiming the thread is being hijacked. Soon you'll see him pinging for backup. He DESPISES the FairTax probably because he is beholden to the income tax, just a guess.

But the main thing he does is run with his tail between his legs when you either question one of his claims or debate him by asking a question. Watch:

X, what is so bad about the FairTax that you would leave in place the horrible income tax?

[xcamel]

Pay no attention to the groaner - his only goal in life is to shout down the many voices of reason out there.

[Ronaldus Magnus Reagan]

But the main thing he does is run with his tail between his legs when you either question one of his claims or debate him by asking a question. Watch..X, what is so bad about the FairTax that you would leave in place the horrible income tax

He's over here with his pals spouting off as well. Now they are using communist economics which I caught them on.

http://www.freerepublic.com/focus/f-news/1934372/posts?page=195#195

[groanup]

Thanks for making me prescient.