AP - The House votes Wednesday on extending relief to more than 20 million taxpayers in danger of getting hit by the alternative minimum tax this year.
Confronting this issue sets up a a war of wills with the Senate on how to deal with this unpopular levy, one that many believe must be stopped in its tracks.
The House, insisting that fixing the AMT must not add to the federal deficit, includes $61.5 billion in new revenues, mostly by increasing taxes coming from corporations. Senate Republicans, using their filibuster powers to block unwanted legislation, say it is wrong to increase taxes to extend current tax law.
source: http://news.yahoo.com/s/ap/20080625/ap_on_go_co/congress_taxes [link] 
06-25-2008, 10:20 AM
