Washington, D.C. - Congresswoman Betty Sutton today supported passage of H.R. 3996, the Temporary Tax Relief Act, which will ensure 45,315 families in Ohio's 13th Congressional District are not hit by the Alternative Minimum Tax (AMT) next year. The bill is expected to protect an estimated 695,060 working families in Ohio.
 

"We must provide these protections for our working families in my district and others in Ohio and throughout this nation," said Sutton. "It is vital that we send a clear message that those families who play by the rules and work hard should not have to pay unfair taxes. Today we also make it clear that this new Democratic Congress is standing up for our middle-class families."
 

The Alternative Minimum Tax (AMT) was originally designed to make sure high-income individuals wouldn't be able to escape paying taxes. Since the AMT is not indexed to inflation or recent tax cuts, an increasing number of middle-class families were set to become subject to higher tax rates. The Temporary Tax Relief Act provides tax relief for 23 million middle-class American families -- who were never intended to pay the AMT in the first place -- but would have fallen under the AMT next year.

 

The Senate version of the bill which passed today did not contain an offset, which Congresswoman Sutton had fought for and voted for in the original House passed measure. The House version included the closing of the loophole on hedge fund CEOs who have taken their profits off-shore to avoid taxes. This provision would have ensured that the AMT fix was paid for; but it the Senate removed it from the bill.
 

"I voted for and strongly support the Paygo system and this new Democratic Congress has brought back fiscal responsibility to Congress" said Sutton. "It is outrageous that the Senate refused to include an offset in the bill like the House, but I believe it is vital that we pass this legislation now to ensure families in my district are protected from paying unfair taxes."