Changes

The Joint Committee on Taxation now reports that indexing the AMT tax rates would explode the deficit by $370 billion over the next several years. [http://www.cbo.gov/showdoc.cfm?index=5386&sequence=0]  The Center on Budget and Policy Priorities states repealing the AMT, without other tax increases to make up the shortfall, would add $1.2 trillion to the deficit, and widening over the next decade, with deficits as far as the eye can see. [http://www.cbpp.org/6-9-05tax.htm] To put that in perspective, total revenues to the U.S Government in FY 2006 were $2.4 trillion.

The Joint Committee on Taxation now reports that indexing the AMT tax rates would explode the deficit by $370 billion over the next several years. [http://www.cbo.gov/showdoc.cfm?index=5386&sequence=0]  The Center on Budget and Policy Priorities states repealing the AMT, without other tax increases to make up the shortfall, would add $1.2 trillion to the deficit, and widening over the next decade, with deficits as far as the eye can see. [http://www.cbpp.org/6-9-05tax.htm] To put that in perspective, total revenues to the U.S Government in FY 2006 were $2.4 trillion.

[[category:politics]]

[[category:Taxation]]