Press Release

BUCHANAN PROTECTS MIDDLE-CLASS TAXPAYERS

Washington, DC -- Congressman Vern Buchanan (R-FL 13) voted today to protect millions of middle-class taxpayers from paying the Alternative Minimum Tax. 

The AMT was enacted in 1969 to ensure that the very wealthy had to pay some taxes, but because of the effects of inflation, the tax now threatens to ensnare millions of middle-income families.

Buchanan supported legislation to suspend the AMT for one year, saving 50,000 individuals and families in Florida’s 13th Congressional District an average of $2,000.

 “This bill will protect millions of middle-class families from an unintended increase in their 2007 taxes,” said Buchanan

Last month, Buchanan voted against an $81 billion tax increase masquerading as an AMT patch bill.  Although that bill narrowly passed the House, it was rejected by the Senate.  “Only in Washington would we raise taxes in the name of lowering taxes,” Buchanan quipped.

The Congressman has co-sponsored legislation (H.R. 1366) to permanently repeal the AMT without raising taxes, as well as a bill to extend expiring tax cuts for working families.  Buchanan is also the author of a constitutional amendment to balance the federal budget.

The House voted 352 to 64 for the “Tax Increase Prevention Act” (H.R. 3996).  The AMT bill now moves to the White House where the president is expected to sign the measure into law.