Nelson (D-Ne) switches vote; alternative minimum tax rate cut derailed

[Omaha Steve]

http://www.omaha.com/index.php?u_page=2798&u_sid=10283871

Published Saturday | March 15, 2008
Nelson switches vote; alternative minimum tax rate cut derailed
BY JOSEPH MORTON
WORLD-HERALD BUREAU

WASHINGTON — A proposal by Republican senators to lower alternative minimum tax rates had an ally in Sen. Ben Nelson of Nebraska — for about 45 minutes.

Nelson, a Democrat, voted Thursday for a budget amendment to reduce the AMT rates, but he changed his mind and later voted against the proposal.

Aides to Nelson said Friday that the second vote came after he had additional time to review the amendment, and he became concerned about its impact on the national debt.

Nelson supports lowering AMT rates, but not this version, said spokeswoman Julie Edwards.

"As a fiscal conservative, Senator Nelson does not believe we can solve our nation's problems by borrowing even more money."

The AMT was created 40 years ago to ensure that the highest-income Americans could not avoid paying incomes taxes, but it has increasingly affected middle-income taxpayers because it was never indexed to inflation. Congress has struggled to craft a permanent solution.

FULL story at link.