Senate Democrats

Reid: Republicans Block Senate From Passing Fiscally Responsible AMT Patch

Washington, DCSenate Majority Leader Harry Reid made the following statement today after the U.S. Senate voted for the Alternative Minimum Tax Act without a measure to pay for it: 

“I am relieved that the Senate has acted this evening to extend AMT relief for 19 million taxpayers – including nearly 100,000 Nevadans.  But I want to make it perfectly clear that I am very disappointed Republicans prevented the Senate from passing AMT relief in a fiscally responsible manner.  Instead, Republicans insisted that the $50 billion cost of this proposal be added to the national debt – a debt that is already growing at a rate of $1 million a minute.

“Although I think it is a shame that it had to come to this, I am supporting this effort because it would be far worse to impose the AMT tax on 19 million unsuspecting Americans.  Democrats will continue to insist on a paygo policy and it is our hope that in the future, Republicans who talk so proudly of fiscal responsibility will back up their rhetoric with their votes.