The AMT was never intended to hit middle-income, law-abiding taxpayers. But because Congress failed to index the AMT for inflation, that's exactly what's happening to a rapidly growing number of middle-income families.
The debate in Congress has focused on how to "make up" for the revenues that would have been collected if taxpayers were held liable for this mistake. This assumes the federal government is somehow owed these revenues -- and that America's taxpayers should foot the bill. I think this is wrong. We must change the debate to put taxpayers first -- not the government.
That's why Congressman Campbell and I, together with the Republican Study Committee, have introduced the Taxpayer Choice Act. Instead of simply patching the AMT for a year, as has been done in recent Congresses, it eliminates the AMT altogether. It also takes a big step toward making our ridiculously complicated tax code simpler and more efficient. This will start us on the path toward a 21st century tax system that keeps us competitive in the global economy.
Rep. Paul Ryan (R-WI)
Committee on the Budget