House Takes Action On Alternative Minimum Tax

The house legislative body has just taken action to save 22 million tax payers thousands of dollars by making adjustments to the alternative minimum tax law. This law, from the end of the 1960′s was originally intended to guaruntee that no one, especially the wealthy, escaped paying any tax. When written, it was flawed because it did not account for inflation. Senate representatives applauded this new revision for not creating new taxes in compensation for the lost revenue.