With Democrats scheduled to take charge of both Houses of Congress in 2007, most of the Bush administration's top tax priorities figure to be shuttled to the legislative back burner for the next two years.But there is at least one island of common ground that has both sides of the aisle and the accounting profession clinging to hope that the next Congress may finally find the political will to resolve a looming nightmare for many Americans - the alternative minimum tax.
Sen. Max Baucus of Montana, the Democrat in line to replace Iowa Republican Charles Grassley as chair of the Senate Finance Committee, has long championed efforts to provide permanent relief from the AMT, and now other top Democrats are joining the bandwagon.
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