No deal in House on AMT tax bill

[Guest]

http://news.yahoo.com/s/ap/20080929/ap_on_go_co/tax_breaks_16

By JIM ABRAMS, Associated Press Writer
Mon Sep 29, 4:05 PM ET



WASHINGTON - The House recessed Monday with no deal on a major tax relief package, increasing the odds that businesses could lose out on critical tax breaks and millions could get hit by the alternative minimum tax this year.

House Majority Leader Steny Hoyer, D-Md., suggested that it might be next year before consensus can be reached on a tax initiative that includes adjusting the AMT, providing tax relief to disaster victims and extending tax credits for renewable energy development, business investment and individual education and child care costs.