If Congress fails to act, we Americans will pay the price. Unless Congress acts, the following tax increases will automatically occur for the following tax-years:
...The exemption for the Alternative Minimum Tax (AMT) will decrease from $44,350 to $33,750 for single filers and from $66,250 to $45,000 for married couples filing jointly.
...Taxpayers will not be allowed to deduct their state and federal general sales taxes from their federal income tax.
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