Washington, D.C. – U.S. Rep. Allyson Schwartz voted in strong support today of the Alternative Minimum Tax Relief Act of 2008, a bill which will give tax relief to 25 million middle class families, including approximately 500,000 taxpayers in Southeastern Pennsylvania. The bill passed 233 to 189.

Schwartz released the following statement after the vote.

“I am proud of our work today to protect 25 million American taxpayers – including half a million people in Southeastern Pennsylvania – from the pain of the Alternative Minimum Tax. 

“True to their record of increasing debt, the Republicans continue to say, "There's no need to offset AMT relief because this tax was never intended to hit these people.” 

“But in 2001 they knew that the Bush tax cuts would increase – by 127% – the number of AMT taxpayers this year.  And they consistently used these taxpayers to mask the true cost of their failed fiscal policies.
 
“We cannot ignore the consequences of these bad decisions.

“We are committed to reversing the Bush Administration’s policy and fiscal failures.

“We are committed to enacting permanent – fiscally responsible – AMT relief for middle income taxpayers. 

“And that is why acted today to protect millions of Americans from the AMT this year without adding to the nation’s exploding debt. 
 
“Given the economic downturn and financial challenges facing our families and our nation, our constituents have the right to expect fair and responsible tax policy. 
 
“The AMT bill we passed today was a fair and responsible plan to provide tax relief to 25 million American families by closing loopholes that benefit only the wealthiest individuals.” 

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