Wednesday, June 16, 2004
The Subcommittee on Oversight of the House Ways and Means Committee on Tuesday held a public hearing on tax simplification. Among the items discussed was Chairman Amo Houghton’s bill (H.R. 4131) to repeal the Alternative Minimum Tax (possible headline: “AMO: NO AMT”). Tax Prof Elizabeth Maresca (Fordham) testified, as did four former IRS Commissioners (Mortimer Caplin, Sheldon Cohen, Don Alexander, and Fred Goldberg). All agreed that the AMT should go, with Tax Analysts reporting that Goldberg called it the “Perfect Storm” facing the tax system.
