GOP rejects Democratic AMT deal
By Jessica Holzer | Posted: 12/06/07 1:21 PM
December 06, 2007
Republicans have rejected a request by Majority Leader Harry Reid (D-Nev.) that the Senate approve by unanimous consent a one-year patch to the Alternative Minimum Tax (AMT) with no accompanying tax increases.
Democrats quickly made political hay of the GOP move, which contradicted earlier Republican calls for extending tax relief with no offsets.
Sen. Max Baucus (D-Mont.) blamed Republicans for obstructing tax relief, and called Reid’s request a “huge concession” on the part of Democrats. “If the AMT hits more taxpayers next year, it’s because of the Republican caucus. That’s clear,” said Baucus, who chairs the Senate’s tax-writing
committee.
Sen. Judd Gregg (R-N.H.), speaking on behalf of Republicans, objected, but said he thought a deal could still be worked out “hopefully sooner rather than later.”
A GOP aide said Gregg objected to give senators time to consider the request.
Reid’s request came after Republicans blocked a procedural vote to debate an $81 billion House-passed measure shielding millions from the AMT for one year and extending a package of popular tax breaks. The House bill included tax increases on businesses to pay for the tax relief.
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