WATCHING WASHINGTON INDEPENDENTS WIN IN HOUSE COMMITTEE

With Patrick Crow Reversing itself, the House ways and means committee has voted alternative minimum tax (AMT) relief for independent producers. On Apr. 29 the committee rejected 20-16 an amendment by Rep. Bill Archer (R-Tex.) to reduce preference treatment for intangible drilling costs to 50% from 100% for independents and majors (OGJ, May 4, p. 52). But the next day Archer returned with an adjusted amendment that won approval 19-16. Archer's new amendment limits AMT relief to 1993 through

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