Senate Democrats Plot Push on AMT Relief in December
Congressional sources indicate U.S. Senate Democrats are poised to push through an alternative minimum tax (AMT) patch in December to prevent an additional 23 million Americans from being hit with hefty tax bills. However, unlike their U.S. House counterparts, senators appear willing to forego pay-go rules in exchange for a 60-vote majority to prevent a filibuster on the measure. U.S. House Democrats want to adhere to pay-go rules and find $50 billion in additional revenue to offset the costs of an AMT fix.
