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S 2432 110th Congress Senate

AMT Equity Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for 2007 and to provide special tax rates for certain capital gains… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for 2007 and to provide special tax rates for certain capital gains and qualified dividend income for 2007, and for other purposes.

Introduced: December 6, 2007 Introduced by: Whitehouse, Sheldon Democratic · Rhode Island See on congress.gov
Taxation Capital gains taxIncome taxMinimum taxTax credits
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Tax exemptionTax penaltiesTax rates
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 6, 2007
Read twice and referred to the Committee on Finance.
Dec 6, 2007
Introduced in Senate
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 Latest action December 6, 2007

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

AMT Equity Act of 2007 - Amends the Internal Revenue Code to extend through 2007: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liability; and (2) the increased AMT exemption amounts. Repeals, for taxable years beginning in 2007, the AMT for individual taxpayers whose adjusted gross income does not exceed $100,000 ($200,000 in the case of a joint return).

Imposes, for taxable years beginning in 2007, a graduated increase in capital gains tax rates for any individual taxpayer whose adjusted gross income exceeds $1 million ($2 million in the case of a joint return). Exempts such a taxpayer from any estimated tax penalties resulting from an increase in capital gains tax rates in 2007.

 Related & companion bills 8
  • HR 1366 Related bill Individual AMT Repeal Act of 2007
  • HR 3818 Related bill Taxpayer Choice Act of 2007
  • HR 3970 Related bill Tax Reduction and Reform Act of 2007
  • HR 3996 Related bill Tax Increase Prevention Act of 2007
  • S 14 Related bill Invest in America Act
  • S 55 Related bill Individual Alternative Minimum Tax Repeal Act of 2007
  • S 2293 Related bill Individual Alternative Minimum Tax Repeal Act of 2007
  • S 2318 Related bill AMT Repeal and Tax Freedom Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 2432: AMT Equity Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-2432/
MLA
"S. 2432: AMT Equity Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-2432/.
Bluebook (legal)
S. 2432, 110th Cong. (2026), https://openamerica.io/bill/110-S-2432/.
Markdown link
[S. 2432: AMT Equity Act of 2007](https://openamerica.io/bill/110-S-2432/)
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