The AMT Blame Game

December 26, 2007 RSS Feed Print

It took all year for congressional Democrats to extend the alternative minimum tax "patch" so that middle-income taxpayers don't get whacked by a tax originally designed to target the rich. As a result, until last week, the IRS couldn't start writing the AMT formula, a task that can take up to nine weeks. Meaning: Tax refunds will be delayed. So who's to blame? Democrats say President Bush and his administration. In a letter to Bush, Speaker Nancy Pelosi and Senate Leader Harry Reid say that the IRS was notified October 30 that Congress would most likely pass the AMT fix, though there were competing proposals before the House and Senate. Now, the Democrats say that the formula should have been designed weeks ago so that refunds wouldn't be delayed. Says a GOP strategist: "What nerve! They pass AMT relief at the last minute then send a letter to Bush asking him to get refunds out in a timely fashion."

Tags:
alternative minimum tax,
politics,
George W. Bush,
Congress

Reader Comments

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

About this blog

About this blog

Washington Whispers has been featured in U.S. News & World Report since 1933, offering a fun, insider's view of Washington.

advertisement

Latest Video

advertisement