I 

110TH CONGRESS 

1ST SESSION H. R. 1923 

To amend the Internal Revenue Code of 1986 to modify the exemption 

amount for the alternative minimum tax. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 18, 2007 

Mr. MCCARTHY of California introduced the following bill; which was referred 

to the Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to modify 

the exemption amount for the alternative minimum tax. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘American Marriage 

5 Tax Relief Act of 2007’’. 

6 SEC. 2. MODIFICATION OF EXEMPTION AMOUNT FOR AL7 TERNATIVE MINIMUM TAX. 

8 (a) INCREASE OF EXEMPTION AMOUNT.—Paragraph 

9 (1) of section 55(d) of the Internal Revenue Code of 1986 


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1 (relating to exemption amount for taxpayers other than 

2 corporations) is amended— 

3 (1) in subparagraph (A) by striking ‘‘$45,000 

4 ($62,550 in the case of taxable years beginning in 

5 2006)’’ and inserting ‘‘$85,000’’, 

6 (2) in subparagraph (B) by striking ‘‘$33,750 

7 ($42,500 in the case of taxable years beginning in 

8 2006)’’ and inserting ‘‘50 percent of the dollar 

9 amount applicable under subparagraph (A)’’, and 

10 (3) in subparagraph (C) by striking ‘‘paragraph 

11 (1)(A)’’ and inserting ‘‘subparagraph (A)’’. 

12 (b) INCREASE OF ALTERNATIVE MINIMUM TAXABLE

13 INCOME FOR PHASE-OUT OF EXEMPTION AMOUNT.— 

14 Paragraph (3) of section 55(d) of the Internal Revenue 

15 Code of 1986 (relating to phase-out of exemption amount) 

16 is amended— 

17 (1) in subparagraph (A)— 

18 (A) by striking ‘‘$150,000’’ and inserting 

19 ‘‘$225,000’’, and 

20 (B) by striking ‘‘paragraph (1)(A) or (2)’’ 

21 and inserting ‘‘paragraph (1)(A)’’, 

22 (2) in subparagraph (B)— 

23 (A) by striking ‘‘$112,500’’ and inserting 

24 ‘‘50 percent of the dollar amount applicable 

25 under subparagraph (A)’’, and 


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1 (B) by striking ‘‘and’’ at the end, 

2 (3) in subparagraph (C)— 

3 (A) by striking ‘‘$75,000’’ and inserting 

4 ‘‘50 percent of the dollar amount applicable 

5 under subparagraph (A)’’, and 

6 (B) by striking ‘‘subparagraph (C) or (D) 

7 of paragraph (1).’’ and inserting ‘‘paragraph 

8 (1)(C),’’ 

9 (4) by inserting after subparagraph (C) the fol10 lowing new subparagraphs: 

11 ‘‘(D) $75,000 in the case of a taxpayer de12 scribed in paragraph (1)(D), and 

13 ‘‘(E) $150,000 in the case of a taxpayer 

14 described in paragraph (2).’’. 

15 (c) INFLATION ADJUSTMENT.—Subsection (d) of sec16 tion 55 of the Internal Revenue Code of 1986 (relating 

17 to exemption amount) is amended by adding at the end 

18 the following new paragraph: 

19 ‘‘(4) INFLATION ADJUSTMENT.—In the case of 

20 any taxable year beginning in a calendar year after 

21 2006, the dollar amounts contained in paragraph 

22 (1)(A) and paragraph (3)(A) shall be increased by 

23 an amount equal to— 

24 ‘‘(A) such dollar amount, multiplied by 


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1 ‘‘(B) the cost-of-living adjustment deter2 mined under section 1(f)(3) for the calendar 

3 year in which the taxable year begins, deter4 mined by substituting ‘calendar year 2005’ for 

5 ‘calendar year 1992’ in subparagraph (B) 

6 thereof. 

7 Any increase determined under the preceding sen8 tence shall be rounded to the nearest multiple of 

9 $100.’’. 

10 (d) EFFECTIVE DATE.—The amendments made by 

11 this section shall apply to taxable years beginning after 

12 December 31, 2006. 

Æ 


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