“This is the wildest game of chicken I’ve ever seen.”

Is how Jim Gust of The Trust and Wealth Management Marketing blog describes the Senate’s dangerous dance with Christmas break and the proposed AMT reformation here.

[T]he Senate hopes to get to the AMT patch before the Christmas recess (which I think may start next week). This is the wildest game of chicken I’ve ever seen. Here’s Majority Leader Harry Reid:

Reid told reporters that the Senate would take up a temporary AMT patch and so-called extenders package “as soon as we can,” and added there were “a lot of balancing balls.” Reid also took issue with what he characterized as GOP obstructionism and blamed the delay in action on AMT relief on the Republicans’ “57 filibusters.” emphasis added

Mr Gust continues, saying:

I’m sorry, but I don’t see how earlier filibusters on other legislation caused the House Ways and Means Committee to delay beginning work on the AMT patch until November. That was rank irresponsibility, and no one has called them on it, or apparently will. Congress has put itself in a box on this, because they will want credit for handing out a tax cut when what they are really doing is preventing a tax increase, one that will fall hardest in the bluest states.

Well said Mr. Gust. Thank you for that.

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