House Ways and Means Committee chairman Kevin Brady. Photo: J. Scott Applewhite / AP
Ways and Means Chairman Kevin Brady made it clear to reporters Thursday that he's no fan of the alternative minimum tax, which the Senate retained in its version of the GOP tax bill as a last-minute source of revenue. It kept the corporate AMT and raised the threshold for the individual AMT, while the House bill repealed both. Experts have pointed out it may have large unintended consequences.
What Brady said: "The provisions are costly to taxpayers, both family and business. They increase complexity, and on the business side they actually undermine many of the pro-growth aspects of the new tax code...It's not something the House wants to retain in there."