Alternative Minimum Tax Relief Act of 2008
Sponsor: CHARLES RANGEL (D-NY)
Alternative Minimum Tax Relief Act of 2008 - Title I: Individual Tax Relief - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; and (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liability. Title II: Revenue Provisions - (Sec. 201) Defines an "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets. Treats as ordinary income (i.e., income taxed at regular income tax rates) net income received by a partner from such an interest, except to the extent such income is attributable to the partner's invested capital.
Taxation Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 3.3% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Nay | Won | 222 | 49.4% |
| Yea | Lost | 199 | 47.3% |
| Not represented on this question | No position taken | 0 | 3.3% |