Some anti-tax groups and the Wall Street Journal are teaming up to promote a tantalizing tax policy: AMT repeal not subject to pay-as-you-go budgetary rules. Per The Hill, heavy hitters including the U.S. Chamber of Commerce, the National Association of Manufacturers, the Business Roundtable and Americans for Tax Reform, managed by activist Grover Norquist, are lobbying the Senate Finance Committee. Comic relief is provided by the Wall Street Journal, with a baseless editorial last Thursday,100% Marginal Tax Rate attributing to Democrats a plan to reform ATM on the backs of (the wealthiest) three million American taxpayers. Two problems, as House Ways and Means chair Charles Rangel (D-NY), points out in a letter to the Journal editor: [First, r]egardless of any document or news report you may cite, such a plan has not been introduced, even in draft form. Second, your editorial fails to note that President Bush's own budget proposal insists that permanent AMT relief be paid for with offsetting revenue increases. Meanwhile, the betting is running 50-50 on whether Ways and Means will release its long-awaited plan before the July 10 All-Star game.