The alternative minimum tax should be repealed, in any tax reform bill, according to comments by House Ways and Means Committee Chairman Kevin Brady (R-Texas) on April 29.
Brady noted that his two predecessors leading the Committee, Speaker Paul D. Ryan (R-Wis.) and form Rep. Dave Camp (R-Mich.), also wanted to eliminate it in the context of reshaping the U.S. tax code. Brady said the AMT is one of a number of tax provisions that work against economic growth and investment, so getting rid of it is a priority. "That will be one of our key goals," he said.
Brady did not discuss a revenue or policy replacement for the AMT, the repeal of which would significantly increase the federal budget deficit.