The Expanding Reach of the Individual Alternative Minimum Tax: Testimony submitted to the United States Senate Subcommittee on Taxation and IRS Oversight of the Committee on Finance

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The Expanding Reach of the Individual Alternative Minimum Tax

Testimony submitted to the United States Senate Subcommittee on Taxation and IRS Oversight of the Committee on Finance

Leonard E. Burman

Published: May 23, 2005 || Availability: PDF | Printer-Friendly Version

The nonpartisan Urban Institute publishes studies, reports, and books on timely topics worthy of public consideration. The views expressed are those of the authors and should not be attributed to the Urban Institute, its trustees, or its funders.

Note: This testimony is available in its entirety in the Portable Document Format (PDF).

Chairman Kyl, Ranking Member Jeffords, and Members of the Subcommittee:

Thank you for inviting me to testify today on the individual alternative minimum tax. I submit as my testimony an updated version of an article I wrote with my colleagues, William G. Gale and Jeffrey Rohaly, titled "The Expanding Reach of the Individual Alternative Minimum Tax," which was originally published in the spring 2003 issue of the Journal of Economic Perspectives. The article has been updated to reflect the effects of major individual income tax legislation passed through 2004, including the temporary deduction for state and local sales taxes (the newest AMT preference item), and the latest CBO economic projections.

Note: This testimony is available in its entirety in the Portable Document Format (PDF).