For most people, AMT relief would offset this, but that's a tricky point to explain.

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Any temporary relief will be more than offset by lasting hardships.

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Neither will it have to offset the revenue lost from additional relief from the Alternative Minimum Tax, further estate tax cuts, trade agreements, or small business tax relief.

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"It is alleged that, between January 1, 2002 and July 1, 2011, a tax relief that allows investors in the British film industry to offset losses against other tax liabilities was abused and dishonestly marketed in order to cheat the public revenue, " Mr Penhale added.

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Democrats, especially the fiscally conservative "blue dog" coalition in the House, demanded the relief adhere to the House's "pay-go" rules, which require spending increases to be offset without adding to the deficit.

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