Thread: Senate passes spending bill with billions for Iraq
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Old 12-19-2007, 09:07 AM   #4 (permalink)
indago
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Journalists Paul Kane and Jonathan Weisman wrote for the Washington Post 19 December 2007:
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Senate leaders also fell short on finding a way to pay for changes to the alternative minimum tax. The chamber had already passed a measure to keep 23 million households, most of them upper-middle-income, from being hit with the AMT next year, but many House Democrats sought to offset the loss of $50 billion to the Treasury from the tax "patch," and so senior Democrats offered up a series of tax increases to cover the cost. Republicans and some Democrats held firm against any tax increase, though, and the proposal, with a vote of 48 to 46 in favor, fell far short of the 60 votes needed to pass. The House now appears ready to pass the AMT measure without any offset.
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Folks were going to get an automatic tax increase, so some of the Democrats were trying to find a way to tax us without that tax increase. Makes a lot of sense, doesn't it...