While the Treasury bailout seems to be heading toward another vote this week, the state of the alternative minimum tax patch and the various tax extenders now seems in doubt.
This seems odd, as both the Senate and the House have passed their own versions of both the AMT patch and the tax extenders. There have been efforts to reconcile them, and they haven’t been too far apart. Unfortunately, as of Monday when I am writing this, there remain some key differences in the offsets that would pay for at least some of the expiring or expired tax deductions and credits in both versions of the bills.
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