Patrick Murphy Votes to Lower Middle Class Taxes
8th District Congressman Votes for Fiscally Responsible Tax Cuts for Unfairly Targeted Middle Class Families
17,400 8th District Families That Paid the AMT in 2005
98,900 8th District Families at Risk of Paying the AMT in 2008
81,400 8th District Families Saved from Paying the AMT After Congress' Fix
Today, Pennsylvania Congressman Patrick Murphy (D-8th District) voted to cut taxes for tens of thousands of families in the 8th District. If left untouched, these middle class families would be hit unfairly by the Alternative Minimum Tax (AMT). Today's vote was a fiscally responsible fix to a problem that has developed over time. The AMT was originally created almost 40 years ago and aimed only at the very wealthy. Over the years, the AMT was never adjusted for inflation and now unfairly targets middle class families. Rep. Murphy's vote for the AMT Relief Act of 2008 will prevent more than 25 million Americans nationwide and more than 80,000 in the 8th District from being impacted from this tax. This bill solves this problem without adding to the debt and was passed with a bipartisan vote of 233-189.
"I proudly voted to cut taxes for hard working middle class families in Pennsylvania. At a time when gas and food prices are hitting record levels, this will be welcome relief," said Congressman Patrick Murphy. "The middle class is the engine of the American economy and fixing the Alternative Minimum Tax will help those who play by the rules but risk being hit with unfair taxes. I am also proud that we provided this critical relief in a fiscally responsible way - without adding to our national debt."
The legislation would responsibly provide tax relief to middle-class families by ensuring that the number of taxpayers subject to the AMT will not increase. The Alternative Minimum Tax was created in 1969 after Congress discovered that some very wealthy taxpayers were paying no income tax. Over the years, those who pay the AMT have changed dramatically. Instead of the very wealthy, the AMT now targets many middle class families - making this relief necessary.