Pelosi: House Passage of AMT Bill will Ensure Essential Tax Relief for Millions of Middle-Class Families

Contact:Brendan Daly/Nadeam Elshami, 202-226-7616

Washington, D.C. -- Speaker Nancy Pelosi released the following statement today after the House voted 233 to 189 to pass the AMT Relief Act (H.R. 6275), which provides $62 billion of tax relief to families that would otherwise have been forced to pay the Alternative Minimum Tax.

"Today's House action ensures that 25 million families will receive essential relief from the Alternative Minimum tax, a provision of tax law that was meant to ensure the wealthy paid their fair share, not to tax middle-class families who are struggling with the high prices of gas and groceries.

"This legislation is fully paid for by closing tax loopholes for a few wealthy investors on Wall Street who pay a lower tax rate on their income than everyday Americans, and by cutting wasteful taxpayer subsidies paid to Big Oil.

"To rebuild the American economy and create jobs here at home, the New Direction Congress is committed to providing middle-class Americans with tax cuts as part of a fiscally responsible budget that invests in critical American priorities, such as job creation, renewable American energy, education, and affordable health care.

"I hope that the Senate will soon act and that the President will drop his objections to fiscally responsible tax relief for middle-class Americans."