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Congress Should Pass Permanent Amt Tax Relief

Date: May 4, 2004
Location: Washington, DC
Issues: Taxes


CONGRESS SHOULD PASS PERMANENT AMT TAX RELIEF -- (House of Representatives - May 04, 2004)

(Mr. WILSON of South Carolina asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. WILSON of South Carolina. Mr. Speaker, this week we will vote on H.R. 4227, the Middle-Class Alternative Minimum Tax Relief Act of 2004. We need to pass this important bill, sponsored by the gentleman from Connecticut (Mr. Simmons), to avoid 11 million taxpayers being hit with an average tax increase of $1,520.

The AMT Tax Relief Act will ensure that this bipartisan tax relief will continue through 2005. As our economy continues its strong recovery, we must make sure that middle-income families keep more of their own money.

Without the AMT Tax Relief Act, millions of middle-income families will face a tax increase next year by being forced
into paying the alternative minimum tax. Married couples will see their AMT exemption drop from $58,000 to $45,000. Single individuals will see their AMT exemption drop from $40,250 to $33,750.

I urge my colleagues to join me in supporting continued tax relief for American families. Vote "yes" on H.R. 4227.

In conclusion, may God bless our troops. We will never forget September 11.

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