The AMT is a flashpoint between the two tax bills

Tracey Samuelson Dec 4, 2017
HTML EMBED:
COPY

The AMT is a flashpoint between the two tax bills

Tracey Samuelson Dec 4, 2017
HTML EMBED:
COPY

So now we have two GOP tax plans that must now become one. Among the variations between the House and Senate bills is the individual alternative minimum tax. That’s the idea that there should be some minimum tax rate so the wealthy can’t deduct or exempt their way out of taxes entirely. Doing away with the AMT, as it’s known, was part of Republicans push to simplify the tax code. But on Friday, the Senate added a version of it back into their plan. What’s going to happen now? 

Click the audio player above to hear the full story. 

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.