Duckworth Supports Tax Bill Providing AMT Relief
Duckworth Supports Tax Bill Providing AMT Relief
Candidate Has Called Repeatedly For Fix To "Middle-Income Surcharge" - Would Work In Congress To Make AMT Fix Permanent
Sixth Congressional district candidate Tammy Duckworth said today that she supports a tax bill scheduled for a House vote later today because it helps provide relief to middle-income families who would otherwise be hit with the Alternative Minimum Tax, an issue that she has emphasized throughout her campaign.
Duckworth also vowed to work, if elected, to extend the AMT relief beyond the one-year fix provided for in the legislation. As now written, the bill (HR 4297) would extend AMT exemption levels at a higher levelbenefiting approximately 15 million taxpayersbut only through 2006.
Since entering the race for Congress, Duckworth has championed fixing the AMT, which is steadily emerging as one of the most damaging items in the tax code. Duckworth has labeled the tax a "middle-class surcharge."
The AMT was originally implemented in the early 1970s, to ensure that the wealthiest taxpayers could not avoid paying income taxes. But largely because it was not indexed to inflation, the AMT has increased the liability of many middle-income families.
"From the beginning of this campaign, I've stressed the need to protect millions of middle-income families from the effects of the Alternative Minimum Tax. The AMT is taking thousands of dollars from the pockets of more and more middle-income families, for whom it wasn't intended. And it's only going to get worse in the years ahead," she said.
"Because this bill does protect those families, I support it. Unfortunately, that fix' will last only one year. If elected to Congress, I will make permanent reform of the AMT one of my highest priorities, so that middle-income families in the 6th District -- and across the country -- won't see their tax bills continue to rise."
A recent study has identified DuPage County as being home to one of the highest concentrations of taxpayers at risk of the AMT. On average, households forced to pay the tax would owe more than $2,700 in additional taxes; couples with one child would owe about $4,700 extra.
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