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H.R. 7005: Alternative Minimum Tax Relief Act of 2008

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H.R. 7005: Alternative Minimum Tax Relief Act of 2008

110th Congress · introduced 2008-09-23 · Taxation · Latest: Motion by Senator Reid to reconsider the vote by which cloture on the motion to proceed to the measure (Record Vote No. 215] was not invoked entered in Senate. (consideration: CR S10931)

federal

Follow this bill, step by step

  1. Where it came from: introduced 2008-09-23 · official record
  2. Who proposed it: Rep. Rangel, Charles B. [D-NY-15] · what a sponsor is
  3. What happened next: 2 recorded votes in our records. Latest: Senate vote 215 (2008): On the Cloture Motion, HR7005 (2008-12-11), Cloture Motion Rejected. See all
  4. Where it stands now: Motion by Senator Reid to reconsider the vote by which cloture on the motion to proceed to the measure (Record Vote No. 215] was not invoked entered in Senate. (consideration: CR S10931) Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Alternative Minimum Tax Relief Act of 2008

Plain summary

(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liability; and (2) the increased alternative minimum tax (AMT) exemption amounts. Increases the alternative minimum tax (AMT) refundable credit amount for individuals who have long-term unused minimum tax credits from prior taxable years. Abates any underpayment of tax attributable to the application of special AMT rules for the treatment of incentive stock options.

Congressional Research Service summary (Passed House without amendment), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Alternative Minimum Tax Relief Act of 2008

Source: Congressional Research Service summary (Passed House without amendment)

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Rangel, Charles B. [D-NY-15] · 14 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard E. Neal (D-MA), Chris Van Hollen (D-MD)

Recorded votes

Words on this page, explained (2)
Exemption
A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong110-hr7005 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110