Tax Hike Prevention: A Good Idea

Brian Darling / September 14, 2010

Senators Mitch McConnell (R–KY) and Chuck Grassley (R–IA) have introduced legislation titled the Tax Hike Prevention Act. According to information provided with the release of the legislation, it provides for a “permanent extension of the provisions of the 2001 and 2003 tax bills, permanently patches the AMT [Alternative Minimum Tax] and includes the Lincoln/Kyl death tax provisions for 2011 and beyond (i.e., a $5 million exemption and a 35 percent rate on amounts above).” Ideas that extend tax reductions are good for the economy and private enterprise.

Preventing taxes from increasing is a good idea. It is unclear if the McConnell/Grassley legislation will come up as an amendment to other legislation before the next recess, but it will be the subject of discussion over the next few weeks. (more…)