Interesting article in the Weekend Wall Street Journal: House’s "Pay-Go" Rule Makes AMT Relief Harder, by Sarah Lueck:
The drive in Congress to protect more middle-class Americans from the individual Alternative Minimum Tax just got a whole lot tougher. The House Friday passed a new "pay-go" budget rule that aims to rein in the country’s surging deficit by prohibiting the chamber from considering any tax-cut or entitlement legislation if the cost isn’t offset by increased revenue or spending trims. For now, at least, House Democrats say they intend to abide by the rule — even when it comes to "fixing" the AMT, a proposition that would require them to replace vast amounts of tax revenue.



