Statement of Douglas Holtz-Eakin, Director, Congressional Budget Office: The Individual Alternative Minimum Tax, before the Subcommittee on Taxation and IRS Oversight Committee on Finance, United States Senate, May 23, 2005 (15 pages, PDF):
“The number of taxpayers who are affected by the AMT and the revenues that are collected as a result of it have been growing over time…Under current law, however, the AMT is expected to extend its reach. In 2002, about 2 million taxpayers paid additional taxes as a result of the AMT; in 2010, roughly 30 million taxpayers are expected to owe more because of it. And those figures do not include the even greater number of filers who are required to calculate their taxes under both the AMT and the regular tax to determine whether they owe more under the alternative tax.”
Related references:
A Reminder About the National Debt
Joint Committee on Taxation – Home Page
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