dharmabum
04-09-2007, 08:56 AM
This is very exciting news. Unlike Bush's Tax Cuts these will actually effect the average American.
Democrats Seek to Lead the Way in Tax Overhaul (http://www.nytimes.com/2007/04/09/business/09tax.html?hp)
By EDMUND L. ANDREWS
Published: April 9, 2007
WASHINGTON, April 8 — House Democratic leaders, in an effort to upstage Republicans on the issue of tax cuts, are preparing legislation that would permanently shield all but the very richest taxpayers from the alternative minimum tax, which is likely to affect tens of millions of families as early as next year if it is left unchanged.
The effort, which lawmakers emphasize is still in its early stages, would exempt millions of people from the tax but would have to come up with a way to offset an enormous loss of revenue in the next decade. Measured in dollars, it would be far bigger than Democratic initiatives to provide money for children’s health care, education or any other spending program.
cont...
Democrats Seek to Lead the Way in Tax Overhaul (http://www.nytimes.com/2007/04/09/business/09tax.html?hp)
By EDMUND L. ANDREWS
Published: April 9, 2007
WASHINGTON, April 8 — House Democratic leaders, in an effort to upstage Republicans on the issue of tax cuts, are preparing legislation that would permanently shield all but the very richest taxpayers from the alternative minimum tax, which is likely to affect tens of millions of families as early as next year if it is left unchanged.
The effort, which lawmakers emphasize is still in its early stages, would exempt millions of people from the tax but would have to come up with a way to offset an enormous loss of revenue in the next decade. Measured in dollars, it would be far bigger than Democratic initiatives to provide money for children’s health care, education or any other spending program.
cont...