To amend the Internal Revenue Code of 1986 to modify the alternative minimum tax on individuals by permitting the deduction for State and local taxes and to adjust the exemption amounts for inflation.
AMT Middle Class Fairness Act of 2005 - Amends the Internal Revenue Code to: (1) allow as a deduction against alternative minimum taxable income certain State and local taxes; and (2) provide for an inflation adjustment of the alternative minimum tax exemption amount for individual taxpayers.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR H10233)
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