Democratic leaders in the House have decided to take a vote today on a one-year fix for the alternative minimum tax. In a nod to reality, they have at last decided not to use this legislation as a pretext for raising taxes, instead electing to take up the legislation that passed the Senate by a strong bipartisan majority. That bill does not include a tax increase. But it simply wouldn’t be the Democratic party didn’t concede this while looking to raise other taxes instead. So with that in mind, it seems that Congress will trade this fix for a tax increase to be named later:
I discussed yesterday why the Blue Dog argument on this is full of holes. Democrats are grasping at the AMT as a flimsy excuse for raising taxes. Even today, when the united opposition of Congressional Republicans is forcing them to simply correct an error, they’re still promising to return next year to attempt to raise taxes again.
