[20081009]RS22909_个人最低替代税：第110届国会的立法活动.pdf

Order Code RS22909Updated October 9, 2008The Alternative Minimum Tax for Individuals:Legislative Activity in the 110th CongressSteven MaguireSpecialist in Public FinanceGovernment and Finance DivisionJennifer TeefyInformation Research SpecialistKnowledge Services GroupSummaryThe alternative minimum tax (AMT) for individuals was originally enacted toensure that all taxpayers, especially high-income taxpayers, pay at least a minimumamount of federal taxes. However, the AMT is not indexed for inflation, and this factor,combined with recent reductions in the regular income tax, has greatly expanded thepotential impact of the AMT. Temporary provisions intended to mitigate the effects ofthe AMT expired at the end of 2006, and Congress worked throughout 2007 to enact anAMT “patch.” The patch for the 2007 tax year, as provided for in the Tax IncreasePrevention Act of 2007 (P.L. 110-166), enacted on December 26, 2007, set the AMTexemption levels for 2007 at $66,250 for joint filers and $44,350 for single filers.The AMT exemption amounts for the 2008 tax year would have been $45,000 forjoint filers and $33,750 for single filers without a patch. On October 3, 2008, the Houseapproved and the P