(THREAD) Epic screw-up in the tax bill the Senate just passed. They lowered the corporate rate to 20%, but accidentally put in an alternative minimum tax (AMT) of 20%. That's right. The same rate. (Maybe rushing it through wasn't the best idea). Here are some implications:
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So they have put this bill in jeopardy on a technicality? I find it hard to believe they wouldn’t all agree to cancel or reduce the AMT.
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Minimum: they'll need to hold another vote. Which means there's more time for debate, constituent pressure, etc. Either way, it won't be simple. The higher AMT raised more revenue, allowing it to pass by Senate rules. If they lower the AMT, they have to raise money elsewhere.
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Good point. Makes for some interesting backpedaling.
End of conversation
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