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H.J.R. 24 Enrolled

                 

RESOLUTION URGING CONGRESS TO

                 
ABOLISH THE ALTERNATIVE MINIMUM TAX

                 
2003 GENERAL SESSION

                 
STATE OF UTAH

                 
Sponsor: J. Morgan Philpot

                  This joint resolution of the Legislature urges Utah's congressional delegation to vote for
                  the repeal of the individual and permanent Alternative Minimum Tax.
                  Be it resolved by the Legislature of the state of Utah:
                      WHEREAS, in 1969 the United States Congress created the Alternative Minimum Tax
                  to prevent wealthy Americans and corporations from using otherwise available deductions to
                  reduce their income tax liability;
                      WHEREAS, today the Alternative Minimum Tax has placed an onerous burden on
                  working middle-class families and productive companies;
                      WHEREAS, any family making over $49,000 and deducting their state and local taxes,
                  mortgage interest, children, and college education will be subject to the Alternative Minimum
                  Tax;
                      WHEREAS, the Corporate Alternative Minimum Tax targets capital intensive
                  industries that create jobs, raises the incomes of workers, and increases the standard of living
                  for all Americans;
                      WHEREAS, corporations become subject to the Alternative Minimum Tax during
                  recessions which forces employee layoffs; and
                      WHEREAS, it is 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:
                      NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah
                  urges the members of Utah's congressional delegation to vote to repeal the individual and
                  permanent Alternative Minimum Tax.
                      BE IT FURTHER RESOLVED that a copy of this resolution be sent to the members of
                  Utah's congressional delegation.


                 

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