Extend the AMT Tax Exemption for Middle-Income Families

May 4, 2004
Press Release
Today, Congressman Joe Wilson (R-SC) made the following remarks from the House Floor: “Mr. Speaker, this week we will vote on H.R. 4227, The Middle-Class Alternative Minimum Tax Relief Act of 2004. We need to pass this important bill, sponsored by Congressman Rob Simmons of Connecticut, to avoid 11 million taxpayers being hit with an average tax increase of $1,520," said Congressman Wilson. “The AMT Tax Relief Act will ensure that this bipartisan tax relief will continue through 2005. As our economy continues its strong recovery, we must make sure that middle-income families keep more of their own money. Watch Video “Without the AMT Tax Relief Act, millions of middle-income families will face a tax increase next year by being forced into paying the Alternative Minimum Tax. Married couples will see their AMT exemption drop from $58,000 to $45,000. Single individuals will see their AMT exemption drop from $40,250 to $33,750. “I urge my colleagues to join me in supporting continued tax relief for American families. Vote yes on H.R. 4227. “In conclusion, may God bless our troops and we will never forget September the 11th,” said Congressman Wilson. ###