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ask.heather@mail.house.gov

In Washington DC
442 Cannon House
Office Building
Washington, DC
20515
202-225-6316 Phone
202-225-4975 Fax
In Albuquerque
20 First Plaza NW
Suite 603
Albuquerque, NM
87102
505-346-6781 Phone
505-346-6723 Fax

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Congresswoman Heather Wilson, First Congressional District of New Mexico


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Wilson Welcomes AMT Relief December 19, 2007
 
Tax relief for middle class comes only weeks before filing season begins

Washington, D.C. – Congresswoman Heather Wilson (R-NM) today voted in favor of a patch of the Alternative Minimum Tax that shields middle-income earners from a tax increase next year. The AMT patch provides relief for those never intended to be affected by this tax.

This Republican proposed legislation does not raise taxes on businesses, and Wilson’s vote not only protected middle class taxpayers but those of all income levels that would be hit with increases under Democrat proposals.

According to Wilson, it is the tax cuts of 2001 and 2003 that have kept the U.S. economy strong. The U.S. economy has grown 2.8% every year since 2001. Real GDP grew 3.9% in the third quarter of 2007. U.S. Treasury revenues are at an all time high. The federal budget deficit is decreasing. Over 8 million jobs have been added since August 2003, and unemployment is at a low of 4.7%.

“Finally, middle class Americans will be protected from falling under the jurisdiction of AMT for this tax year. I supported this bill today to patch the AMT for one year, but I question the Democrat leadership in why it took this long to prevent this tax increase,” said Wilson.

The Alternative Minimum Tax was never adjusted for inflation, and without this yearly patch it would affect middle income earners – something it was never intended to do.

Wilson will continue to push for a permanent patch on the Alternative Minimum Tax.

Under Republican leadership, Congress passed a repeal of the AMT in 1999, which was vetoed by President Clinton. Republican-led Congresses enacted an AMT patch by June of every year since 1999. This year’s delay in enacting the patch prompted the IRS to issue serious warnings regarding 2007 tax filings, noting that 50 million Americans could still have their tax refunds delayed.

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