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Pelosi Statement on House Passage of AMT Relief

September 24, 2008

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

Washington, D.C. - Speaker Nancy Pelosi released the following statement tonight on House passage of H.R. 7005, a bill to provide critical tax relief to 25 million middle-class families by protecting them from the Alternative Minimum Tax (AMT). The bill passed by a vote of 393 to 30:

"Today, the Congress is providing critical tax relief to 25 million middle-class families. As many Americans worry about losing their homes and jobs, and all Americans worry about losing their standard of living, the House is passing relief to ease the strain on middle-income families and strengthen the economy.

"I am, however, disappointed that stubborn fiscal irresponsibility on the part of the President and Republicans in Congress has resulted in AMT legislation that does not meet the rigors of pay-as-you-go spending. To protect middle-income families from an impending tax increase, we have been forced to drop some responsible spending offsets. Republican misplaced priorities are again burdening future generations with debt.

"Democrats will continue our efforts to help Americans on Main Street by putting middle class families first. Republicans must join us to ensure that this essential legislation is enacted into law without further delay."