Hoyer on AMT

WASHINGTON – House Majority Leader Steny Hoyer released the following statement tonight after Senate Republicans blocked for a second time a fiscally responsible patch of the Alternative Minimum Tax.  Senate Democrats again supported the House-passed fiscally responsible AMT bill:

 

“Let me be clear, there is no disagreement between Republicans and Democrats over protecting the middle-class from the AMT.  The question is, will we do so responsibly or charge tens of billions of dollars to our grandchildren? 

 

“For six years President Bush and Congressional Republicans enacted AMT patches and charged the bills to future generations – adding more than $100 billion to the national debt. 

 

“House and Senate Democrats have tried twice this year to enact responsible legislation that would protect 23 million Americans from the AMT while not adding to the deficit by closing unfair tax loopholes for the wealthiest Americans.  Republicans in the Senate blocked each bill, while the President bolstered their fiscal irresponsibility by threatening vetoes.

 

“Democrats are determined to protect middle-class tax payers from the AMT before we adjourn for the year, and we are very disappointed that Republicans continue to block responsible relief.”