Goode News

Goode News
December 14, 2005

The U. S. House of Representatives has voted to endorse legislation to protect aircraft pilots from attacks by laser beams. H. R. 1400 would establish a new federal crime by requiring that whoever knowingly aims the beam of a laser pointer at an aircraft or at the flight path of such aircraft is subject to either a fine, or up to five years in prison (or both).

According to a Committee Report given to the House, the number of Federal Aviation Administration reported incidents of an individual aiming a laser beam at an aircraft has increased dramatically, (400 times since 1990, and 100 times since November 2004). For instance, on November 9, 2005, David Banach of Parsippany, New Jersey, pleaded guilty to violating the Patriot Act for shining a laser at aircraft on two separate occasions. The guilty plea was part of an agreement in order for Mr. Banach to avoid jail time, which under the Patriot Act could reach up to 20 years. The bill passed by the House is intended to respond to this threat while providing prosecutors with an alternative to charging individuals under the broader Patriot Act with its more serious consequences.

Also, the House has approved a bill to extend to 2006 the Alternative Minimum Tax (AMT) relief available to single and married-joint filers in 2005 and to index such relief for inflation in 2006 and thereafter.

The Internal Revenue Service describes the AMT, as "a separate tax computation that, in effect, eliminates many deductions and credits and creates a tax liability for an individual who would otherwise pay little or no tax." As envisioned originally, the AMT was to apply to wealthy individuals, but today it applies to many middle-class Americans. This discrepancy with and unintended consequence about the AMT has arisen because, as incomes rose over the past two decades, the triggers for the AMT remain fixed. The result was that more and more people have been affected by the AMT, (thus forcing them to pay higher taxes).

In another tax-related piece of legislation, the House approved language which benefits our troops who are serving in combat. The bill would extend through the end of 2006 the option of including combat pay as earned income for the purposes of the earned income tax credit.

Don't forget that the deadline for signing up for the new Medicare Prescription Drug Plan is December 31st, if you want your coverage to begin on January 1, 2006. If you have any questions about the plan, call Jennifer Moorefield in my Danville office, 1-800-535-4008, or 1-434-792-1280.

http://www.house.gov/goode/20051214.shtml