[Congressional Record Volume 151, Number 152 (Wednesday, November 16, 2005)]
[House]
[Pages H10232-H10233]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               AMT REFORM

  (Mr. GARRETT of New Jersey asked and was given permission to address

[[Page H10233]]

the House for 1 minute and to revise and extend his remarks.)
  Mr. GARRETT of New Jersey. Mr. Speaker, I rise today to address the 
Middle Class Fairness Act and the AMT, the alternative minimum tax. 
This tax was put in place years ago to basically cover a small group of 
wealthy taxpayers who were avoiding paying their taxes. Unfortunately, 
now it extends far beyond its initial intent in recent years. Now the 
AMT is actually punishing families and homeowners and the very credits 
that are in the current tax law, those credits that encourage savings, 
education, marriage, homeownership; they are all under attack by the 
AMT.
  I am from the State of New Jersey. Our State has the highest 
percentage of people who are paying the AMT. Yet our State is the State 
with some of the highest taxes in the country. The solution to this 
problem? Well, it is relatively simple, two things: All we have to do 
is index the AMT, and, secondly, allow for the deductibility of taxes 
for those people who have to pay it. Reform is long overdue. The middle 
class deserves this reform in order to not any longer fall under the 
AMT.

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