The Center on Budget and Policy Priorities holds a conference call for the media today on How Would Repealing the Alternative Minimum Tax and Not Paying for it Affect the Budget?:

• The high cost of repealing the AMT, especially if (as is likely) the 2001 and 2003 tax cuts do not expire as scheduled
• The extent of the damage that repealing the AMT without paying for it would cause to the nation’s already grim fiscal outlook
• The reasons why Congress enacted the 2001 and 2003 tax cuts, which lawmakers knew at the time would substantially worsen the AMT problem, while postponing action on the AMT until those large tax cuts had become law

Presenters also will discuss alternatives that would greatly reduce the impact of the AMT on middle-income taxpayers at a significantly lower cost than repeal. The briefing will be conducted by Center Senior Fellow Jim Horney and Len Burman, Senior Fellow at the Urban Institute and Co-Director of the Urban Institute-Brookings Tax Policy Center.

To participate in the 1:00 pm conference call, register here or here.

Update: James Horney has published a 10-page report, Repealing the Aletrnative Minimum Tax Without Offsetting the Cost Would Add $1.2 Trillion to the Federal Debt over the Next Decade.