20 million taxpayers spared extra hit: Rep. Shuler votes against AMT bill
Thursday, December 20th, 2007
By Chris Fitzsimon
By Doug Abrahms
GANNETT NEWS SERVICE
and Jim Abrams
THE ASSOCIATED PRESS December 20, 2007 12:15 am
WASHINGTON — Congress passed legislation Wednesday to prevent the alternative minimum tax (AMT) from falling on more than 20 million additional U.S. taxpayers. Rep. Heath Shuler, D-Waynesville, voted against the bill because it added to the federal deficit.
The House passed the initial bill to fix the AMT, which originally targeted very wealthy people, and its $50 billion cost was offset through the closure of a loophole on offshore tax havens. But the Senate voted against that offset because it raised taxes, and the House agreed to follow suit or face levying the AMT on more than 20 million additional taxpayers.
Shuler said he supported fixing the AMT but was one of only 64 House members to vote against the bill because it added $50 billion to the federal deficit.
“Republicans in the Senate and House have chosen to avoid making the tough decision today, and instead they have taken the politically easy path,” he said. “Congress must pay its bills just like families and businesses across America do every single day.” (more…)
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