BILL REQ. #:  H-0616.2 

Read first time 02/09/2005.   Referred to Committee on Finance.

     TO THE HONORABLE GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES, AND TO THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE OF REPRESENTATIVES, AND TO THE SENATE AND HOUSE OF REPRESENTATIVES OF THE UNITED STATES, IN CONGRESS ASSEMBLED:
     We, your Memorialists, the Senate and House of Representatives of the State of Washington, in legislative session assembled, respectfully represent and petition as follows:
     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; and
     WHEREAS, Today the Alternative Minimum Tax has placed an onerous burden on working middle-class families and productive companies; and
     WHEREAS, Many families with very moderate incomes that deduct their state and local taxes, mortgage interest, children, and college education can 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 increase 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 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, Your Memorialists respectfully pray that the United States Congress vote to repeal the individual and permanent Alternative Minimum Tax.
     BE IT RESOLVED, That copies of this Memorial be immediately transmitted to the Honorable George W. Bush, President of the United States, the President of the United States Senate, the Speaker of the House of Representatives, and each member of Congress from the State of Washington.