Sen. McCain wants to eliminate the AMT

John McCain is pledging to repeal the alternative minimum tax and hold down government spending with vetoes and line-item-veto authority.

In remarks made Monday evening to the Economic Club of Southwest Michigan, promised to eliminate the alternative minimum tax, which he said would affect as many as 30 million people by 2010. The tax was originally intended to make sure the wealthy do not exploit tax loopholes.

"I am committed to repealing this tax before millions of American
families are forced to devote even more of their hard work to paying for the
spending largesse in Washington,"

McCain said in excerpts from his speech released by his campaign.

McCain said he would fight for line-item veto power, which the Supreme Court ruled was unconstitutional, but wouldn't hesitate to use the veto as it now exists to crack down on spending.

"Give me the pen, and I'll veto every single pork-barrel bill Congress
sends me, and if they keep sending them to me, I'll use the bully pulpit to make
the people who are wasting your money famous,"

he said.