Oh, this is not good news. Not at all. If the Dems can’t get their act together over a huge issue that impacts millions of Americans, their collective goose is cooked.
Hoyer says Congress may not be able to patch AMT
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.” His remark came as a surprise, since [...]
UPDATE: Rangel seems more optimistic
House Ways and Means Chairman Charles B. Rangel said Tuesday he cares more about “patching” the alternative minimum tax than following the pay-as-you-go budget rule, signaling an end to a months-long standoff over a [...]
UPDATE 2: It’s looking good, finally!
A temporary standoff on the omnibus spending bill was resolved today after the Senate agreed to vote on an alternative minimum tax patch with offsets, lawmakers and aides said. House Speaker Nancy Pelosi, addressing concerns of the moderate-to-conservative Blue Dog Coalition of House Democrats, had threatened not to send the spending bill to the Senate until Senate Majority Leader Harry Reid agreed to bring up a fully offset AMT bill. Reid agreed to the change this afternoon, and Pelosi [...]
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