There are many reasons to dislike the alternative minimum tax, which President Donald Trump has proposed to repeal in his current tax plan. But repealing the AMT may be just as bad as keeping it.
For one thing, it would contribute to a significant federal budget shortfall, and for another, its repeal may have unpleasant unintended — and intended — consequences to affected taxpayers.
The ostensible goal of the individual AMT is to prevent wealthy taxpayers from paying little to no federal tax. The AMT is a separate tax system with its own rules governing treatment of income and deductions.