John Buckley talked about the alternative minimum tax (AMT) and its relationship to the “fiscal cliff,” and he responded to telephone calls and electronic communications. Topics included the history of the AMT and the AMT patch, and the impact of a lack of agreement on a patch on taxpayers.
“Fiscal cliff” referred to the impending tax increases and sequestration budget cuts at the end of 2012 if Congress failed to reach a new budget agreement.*"Sequestration," a legal procedure in which automatic budget cuts are triggered, was agreed to in the Budget Control Act of 2011.
Nancy Calo read news headlines from C-SPAN Radio at the end of the program.
This program part of a “Washington Journal” series looking at specific policy areas of the “fiscal cliff.”