2003 Regular Session
By: Senator(s) Chaney, Gordon, Johnson (19th), Gollott, Michel, White, Moffatt, Nunnelee, Ross, Kirby, Dickerson, King, Carmichael, Stogner, Scoper, Cuevas, Minor, Harvey, Browning, Mettetal, Hewes, Huggins, Walden, Lee, Walls, Little, Furniss, Canon
A RESOLUTION REQUESTING THAT THE CONGRESSIONAL DELEGATION OF THE STATE OF MISSISSIPPI WORK TO ABOLISH THE ALTERNATIVE MINIMUM TAX.
WHEREAS, in 1969, the United State Congress created the Alternative Minimum Tax to prevent wealthy Americans and corporations from using otherwise available deductions to reduce their income tax liability; and
WHEREAS, today the Alternative Minimum Tax has placed an erroneous burden on working middle-class families and productive companies; and
WHEREAS, any family making over $49,000.00 annually and deducts their state and local taxes, mortgage interest, children and college education will be subject to the Alternative Minimum Tax; and
WHEREAS, the Corporate Alternative Minimum Tax targets capital intensive industries that create jobs, raise the incomes of workers, and increases the standard of living for all Americans; and
WHEREAS, corporations become subject to the Alternative Minimum Tax during recessions which forces layoffs of the employees; and
WHEREAS, it important to protect working middle-income families and productive companies from tax burdens that only reduce the possibility of economic prosperity instead of encourage it; and
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, That we hereby request that our elected Representatives and Senators in the United States Congress vote to repeal the individual and permanent Alternative Minimum Tax.
BE IT FURTHER RESOLVED, That a copy of this resolution be furnished to the members of the Mississippi congressional delegation.