The Senate went on recess last week without passing legislation to prevent the alternative minimum tax from impacting approximately 21 million tax payers next year, thereby delaying an inevitable showdown with the House over how to pay for the one-year "patch" until December.

At issue are differences between the two chambers on how to pay for extending the AMT patch and other expiring tax provisions such as the research and experimentation tax credit. Under Congress' current pay-go rules, tax cuts must be paid for by revenue raisers. On November 9, the House passed an $82 billion bill that would raise revenue by increasing taxes on carried interest and changing deferred compensation rules.

Separately, Congress also postponed a vote on a final transportation appropriations bill supported by the Chamber and its Americans for Transportation Mobility Coalition. Although the final bill under-funds public transportation by $81 million, the Chamber still feels strongly that this conference report should pass as a stand alone measure in order to maintain and improve the nation's highway and public transportation systems in fiscal year 2008.

Contact your member of Congress during the Thanksgiving recess.