Prater & Mistr on Untangling the Web of the Individual AMT

Mark Prater (Chief Tax Counsel, Senate Finance Committee Republican Staff) & Christy Mistr (Tax Counsel, Senate Finance Committee Republican Staff) have published Untangling the Web of the Individual AMT:  A Priority of the Highest Order, 108 Tax Notes 699 (Aug. 8, 2005), also available on the Tax Analysts web site as Doc 2005-16230, 2005 TNT 152-27.  Here is the Introduction:

In a way, we would like to thank John Buckley (Chief Tax Counsel, House Ways and Means Committee Democratic Staff) for his recent Tax Notes article [The Tangled Web of the Individual AMT, 108 Tax Notes 347 (July 18, 2005), blogged here] regarding the growing individual alternative minimum tax problem. Continued focus on the issue is helpful and necessary as we continue working in a bipartisan fashion toward an appropriate legislative solution. We agree with the author (and so those who have considered the issue) on one point: The individual AMT has most certainly ceased to have any serious policy rationale and the call for reform is universal. We disagree with the author, however, on two critical points: (i) the source of the growing individual AMT problem and (ii) the appropriate course of congressional action.