Bernanke: AMT Reform Now a Priority

WASHINGTON-- White House economic adviser Ben Bernanke said Tuesday fixing the alternative minimum tax is a "high priority" for the panel examining ways to change the U.S. tax code, Reuters reported.

The panel, appointed by the Bush administration in January, is due to report on Sept. 30 after its deadline was pushed back by a White House grappling with a crammed domestic agenda.

The alternative minimum tax, a levy that was intended to ensure the wealthy pay enough tax but which is weighing increasingly on the middle class, is one of the tougher issues on the panel's plate.

Bernanke, a former Federal Reserve Board Governor, was speaking at the American Enterprise Institute.

-- NYSSCPA.org News Staff

Posted on 7/12/05