November 09,2007

House AMT Patch Might Fail in Senate, Real Story on Who Blocked Permanent Tax Relief

Today the House of Representatives passed the Temporary Tax Relief Act of 2007 (H.R. 3996), a bill to offer an Alternative Minimum Tax “patch” and extend certain expiring tax provisions. Separately, yesterday the non-partisan Joint Committee on Taxation released an analysis of the Tax Reduction and Reform Act of 2007 (H.R. 3970), the broader tax bill from the Ways and Means chairman.

Sen. Chuck Grassley, ranking member of the Committee on Finance, made comments on these developments, available in the Printer-Friendly Version of the release.