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Wednesday, March 19, 2008
Baucus Continues Quest to Drive Up Deficits
Sen. Max Baucus (D-MT), Chairman of the Senate Finance Committee, reiterated yesterday that the one-year adjustment to prevent the Alternative Minimum Tax (AMT) from impacting millions of additional taxpayers this year will not be paid for - ensuring an additional $70 billion will be added to the deficit. Depsite the decision by House leaders to include a special provision in their version of the budget resolution (called "reconciliation instructions") that would protect a paid-for patch from being filibustered in the Senate, Baucus and other Senate leaders (including Senate Budget Committee Chairman and all-around good guy Kent Conrad (D-ND)) seem to not even want to try to pay for the AMT. BNA reports ($):
Many Senate Republicans expressed opposition to the reconciliation instructions, saying they were meant to bully the Senate into accepting a paid-for patch.
But Senate Finance Committee Chairman Max Baucus (D-Mont.) told BNA late March 13 that while he believes reconciliation instructions will be in the final resolution, he does not believe Congress will pay for the patch because like in 2007, while he would prefer it to be offset, that is not the will of the Senate.
"I don't think we'll pay for it," Baucus said in between votes on the Senate floor. "AMT is not going to be paid for. Everybody wants to do an AMT patch and AMT will not be paid for."
What's the point of being in the majority if Democrats are not going to get serious about one of their main priorities - fiscal responsibility? Can't they at least try?
Image by Flickr user stgermh used under a Creative Commons license
Posted by Adam Hughes
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