Tubbs Jones Supports AMT Bill

Statement

Tubbs Jones Supports AMT Bill

Today, Congresswoman Stephanie Tubbs Jones expressed her support for the Alternative Minimum Tax (AMT) Relief Act of 2008. The bill would provide more than 25 million families with tax relief in 2008 by extending AMT relief for nonrefundable personal credits and increasing the AMT exemption amount to $69,950 for joint filers and $46,200 for individuals. The legislation passed the House by a vote of 233-189. She released this statement:

"The alternative minimum tax is a critical issue for the American middle class taxpayer who does not get to take advantage of sophisticated tax planning and legal loopholes in the tax code," said Rep. Tubbs Jones. "While I believe we need a permanent solution to this issue, this bill will ensure that 25 million more Americans will not be hit by this outdated tax law.

"It is particularly ironic that a tax that was meant for 155 wealthy individuals has become a burden for millions of American taxpayers. Over 8,000 hardworking, middle-class Ohioans in my district had the grim task of filing a return with AMT implications in the 2005 tax year. Without this legislation that number would surely grow. Those are families with children, healthcare costs, unemployment issues, housing costs and the other money matters with which American taxpayers must cope, not to mention higher gas prices. Tax relief is due for these Americans."

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