Washington, DC – Today, local Congresswoman Kirsten Gillibrand voted for the Alternative Minimum Tax Relief Act of 2008 [H.R. 6275], legislation that will shield 25 million Americans, including 69,943 NY-20 residents, from paying the Alternative Minimum Tax (AMT) next year.  This bill is completely paid for by closing tax loopholes, and will not increase the deficit.

 "Middle class families should never pay the AMT, and this bill will prevent nearly 70,000 local, middle class families from receiving a higher tax bill next year," Congresswoman Gillibrand said.  "I strongly support permanently fixing the AMT and I will continue to work in Congress to create a fairer tax system that does not penalize hardworking, middle class families."

The AMT was created in 1969 to ensure that 155 wealthy families paid their fair share in taxes.  Congress never indexed the AMT to inflation, and if the provisions in this bill are not signed into law, then an additional 25 million households will pay the AMT that did not have to last year. 

Congresswoman Gillibrand added, "Tax cuts for middle class families are one of my highest priorities in Congress.  The recent sharp increases in the cost of gas, health care and food have squeezed the budgets of middle class families.  Upstate New York families need tax relief now."

In Congress, Congresswoman Gillibrand has been a strong advocate for cutting taxes for middle class families, seniors and small business owners.  She voted in favor of providing nearly every household in Upstate New York with a tax rebate of up to $1,200 per couple, plus $300 for every dependent.  In addition, she authored the Family Care Act [H.R. 1871], which doubles the Child and Dependent Care Tax Credit, and the College Tuition Tax Relief Act [H.R. 3388], which allows middle class families to deduct up to $10,000 in college tuition and expenses.  Finally, she has lobbied New York State officials about the need to lower property taxes, and she is a sponsor of the Property Tax Relief Act, which will allow all taxpayers to deduct their property taxes.