Senate tax writers plan to introduce legislation this week that would repeal the unpopular alternative minimum tax. The bill, to be offered by Finance Committee Chairman Charles E. Grassley, ranking panel Democrat Max Baucus of Montana, Jon Kyl, (R-AZ), and Ron Wyden, (D-OR), will propose eliminating the tax, known as the AMT, effective January 1, 2006. It is unlikely to pass this year, however. President Bush wants the issue to be considered as part of a broad tax overhaul debate, which will most likely occur next year. Repealing the AMT would cost at least $600 billion over 10 years, the Congressional Budget Office estimated last year. The tax is expected to bring in $15 billion in the current fiscal year. Rep. Phil English, R-Pa., also introduced repeal legislation (HR 1186) in March. But congressional Republicans are expected to push a one-year extension of expanded AMT exemptions that expire this year rather than permanent repeal.