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U.S.
Senator Member of the Agriculture, Energy and Veterans Affairs
Committees |
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For Immediate
Release December 6, 2007 |
CONTACT:Stephanie Valencia – 202-228-3630 |
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| Sen. Salazar Votes to Bring AMT Relief to Thousands of Colorado Taxpayers WASHINGTON, DC – Today, United States Senator Ken Salazar voted to support a package that would provide needed relief from the burden of the Alternative Minimum Tax for millions of American taxpayers. The AMT was created in 1969 in order to ensure that wealthy families paid their fair share in taxes. Because it was not indexed for inflation, it is projected that, without a fix, nearly 23 million Americans will be subject to the tax in 2007. In 2005, nearly 38,000 Colorado taxpayers paid the Alternative Minimum Tax. If no action is taken, that number is expected to grow by approximately 200,000 in 2007. “Although the AMT was originally intended to affect a handful of the wealthiest families, it now threatens to place an unfair burden on the backs of many middle-class households. Today’s action in the Senate is a step toward providing needed relief from this burdensome tax for the nearly 200,000 hard working, middle-class Colorado families that would otherwise be subjected to the AMT this year. I think we can all agree that these are not the same people that the AMT was originally intended to capture. I am glad that we were able to take a step to address this tax before it unfairly impacted millions of additional taxpayers in the coming year, and I remain committed to working with my colleagues to enact permanent AMT reform. Hardworking citizens deserve a more reasonable and fair tax system -- today's Senate vote marks a step in the right direction, and I will continue working toward that end.”
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