Trying to find a way out of a sticky tax problem, the Senate on Thursday voted overwhelmingly to prevent the alternative minimum tax from hitting millions of middle-class Americans without replacing the $50 billion that would be lost. Senator Kent Conrad, Democrat of North Dakota, who is the chairman of the Budget Committee, opposed the Senate plan, saying that while it was proper to limit the reach of the tax, it was wrong to do so without replacing the money. “It ought to be paid for,” Mr. Conrad said. “The revenue ought to be replaced by spending cuts or other revenue.” (New York Times, Friday)
Raise your hand if you think they will cut spending.
FEE Timely Classic
Does Government Always Have to Grow? by Stephen Davies