AMT TidBits

Fairmark:  “AMT Deficit” Goes On-Budget; Change Has Profound Implications, by Kaye A. Thomas:

The Obama administration is poised to make a stunning change in budget policy. The change will add over $1 trillion to the projected federal debt — and that’s good. It puts an end to a charade that has persisted in past administrations, both Democratic and Republican. The “AMT deficit” is going to go on-budget.

Bloomberg:  Obama Showers Wall Street Fees With Muni Stimulus, by Jeremy R. Cooke:

The stimulus law promotes municipal bonds by removing the alternative minimum tax, or AMT, penalty from debt sold to fund private activities such as airport runways and student loans. It also increases the size of bond issues qualified for tax exemptions when bought by commercial banks.

Special thanks to Professor Paul L. Caron of the TaxProf Blog.

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