On October 25, 2007, Ways and Means Committee Chairman Charles Rangel (D-NY) unveiled H.R. 3970, The Tax Reduction and Reform Act of 2007, sweeping tax reform legislation that would provide for a revenue-neutral repeal of the individual alternative minimum tax (AMT). This paper describes the proposal and provides distribution tables that analyze the impact of the major individual income tax provisions in the bill.

On October 25, 2007, Ways and Means Committee Chairman Charles Rangel (D-NY) unveiled H.R. 3970, The Tax Reduction and Reform Act of 2007, sweeping tax reform legislation that would provide for a revenue-neutral repeal of the individual alternative minimum tax (AMT). This paper describes the proposal and provides distribution tables that analyze the impact of the major individual income tax provisions in the bill.

New York State Mortgage Rates October 25 2007. Fixed mortgage rates are UNCHANGED from Wednesday October 24 2007, while adjustable mortgage rates are UNCHANGED – Today’s 30 Year, 15 Year Fixed are UNCHANGED- while as the 5/1, the 3/1 ARM Mortgage Interest Rates are UNCHANGED as well . The 10 year bond is UP slightly to 4.34%.