Stop the Stealth Tax

The Alternative Minimum Tax (AMT) is among the most pernicious part of the tax code for middle-class taxpayers.  Although created in 1969 to prevent tax avoidance by the very wealthiest of Americans, more and more middle-class families are now being ensnared by it.  In fact, one the worst parts about the AMT is most taxpayers don’t know they have to pay it until they file their taxes, which is why I call it the “Stealth Tax”.  This stealth tax is now unleashing an unprecedented sneak attack on millions of middle-income individuals and families.  Last year, I led the fight against this tax hike, and millions of middle-class taxpayers were saved from a massive tax increase.  Unfortunately, that relief only lasted through December 31, 2006, and unless Congress acts again, millions of middle-class Americans will face another stealth tax increase this year.  I look forward to working on this issue with my colleagues on the Ways & Means Committee, and ensuring that millions of middle-class Americans don’t face a tax hike heading into 2008.  If you want more information on my bill, click here to visit the special section on my website about the Stealth Tax.