Tax Cut Showdown

The House of Representatives passed two major tax-cut bills this week. One deserves to become law; the other deserves to die. It will be up to the Senate to make sure that happens.

On Wednesday, the House overwhelmingly passed a bill that would shield millions of taxpayers from the alternative minimum tax next year. The relief is expensive - costing nearly $30 billion - but it's critical. Without it, many middle-class Americans, who were never the intended target for the alternative tax, would be suddenly forced to pay higher taxes when they filed their 2005 tax returns. (The alternative tax was intended to stop rich people with lots of shelters from escaping their tax burden entirely, but it has not been changed to reflect inflation or the tax cuts passed under President Bush.)