BNA: Senate’s Alternative Minimum Tax Creates Friction With House

I spoke to Laura Davison of Bloomberg BNA about the implications of the Senate’s 11th hour reinstatement of the AMT:

Curbing the state and local tax deduction while keeping the AMT creates an interesting interaction because many AMT payers are the same people who could have large SALT write-offs. SALT isn’t deductible under the AMT, but lawmakers had used the argument that repealing the AMT would lessen the pain of restricting SALT deductions, said Liam Donovan, a tax lobbyist at Bracewell LLP in Washington.

“This makes it harder for the medicine to go down,” he said.

Read the full piece here.

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