The Senate Finance Committee has released the first in a series of discussion drafts containing tax reform options for the committee to consider as members debate overhauling the tax code. One of the options presented to simplify the code is to repeal the alternative minimum tax, which is applied to private activity bonds and increases their borrowing costs.

The nine-page option paper, "Simplifying the Tax System for Families and Businesses," released Thursday is a compilation of ideas from majority and minority staffs from the Finance Committee, as well as input from committee members.

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