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Fixing the AMT Problem

19 Oct
2007

Democrats have finally realized they need to fix the Alternative Minimum Tax this year, but their solution faces some competition in the House and Senate from Republican plans unveiled in the past couple weeks.

Last week Rep. Paul Ryan (R-Wis.) won high marks from columnist Robert Novak for his proposal to reshape the tax code. Paul’s plan was so ambitious that even the fiscal conservatives in the White House were reluctant to sign on, Novak reported. My colleague Andrew Grossman highlighted some of the positive elements of the proposal.

Yesterday Senate Republicans got into the act, unveiling their own plan. A few clips from their press conference are available on YouTube.