AMT Relief Act of 2007
Sponsor: CHARLES RANGEL (D-NY)
AMT Relief Act of 2007 - Title I: Individual Tax Relief - (Sec. 101) Amends the Internal Revenue Code to extend through 2007 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liability; and (2) the increased AMT exemption amounts. (Sec. 103) Increases the AMT refundable credit amount for individual taxpayers with long-term unused tax credits in prior taxable years. Abates any underpayment of tax and related interest and penalties attributable to the application of special AMT rules for the treatment of incentive stock options.
Taxation Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 4.4% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 225 | 50.1% |
| Nay | Lost | 191 | 45.5% |
| Not represented on this question | No position taken | 0 | 4.4% |