House approves AMT threshold hike

WASHINGTON, May 5 (UPI) -- The U.S. House Wednesday approved a one-year extension of an increase in the exemption levels for the alternative minimum tax.

It is estimated that without the move, approximately eight million couples would be forced to pay higher federal tax rates.

The move is part of a four-week effort by House GOP leaders to address tax issues. The action has been derided by House Democrats as a publicity stunt.

While the AMT extension is ultimately expected to be addressed by Congress this year, aides from both parties said it will likely be accomplished within a broader tax or spending measure addressing various portions of the code.