In our latest installment of the Edsplainer series, we tackle the Alternative Minimum Tax, or AMT, a term that will be bandied about in the coming weeks as the White House and Congress work to avert the “fiscal cliff.”
Tens of millions of Americans could be forced to pay the tax for the first time next year if lawmakers don’t act soon. Watch our “edsplanation” below:
WATCH OTHER EDSPLAINERS:
What is the sequester?
What is the ‘fiscal cliff’?
How are unemployment numbers calculated?
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Ed O’Keefe is covering the 2016 presidential campaign, with a focus on Jeb Bush and other Republican candidates. He's covered presidential and congressional politics since 2008. Off the trail, he's covered Capitol Hill, federal agencies and the federal workforce, and spent a brief time covering the war in Iraq.