To amend the Internal Revenue Code of 1986 to increase the exemption amounts for individuals under the alternative minimum tax.

Amends the Internal Revenue Code to increase the exemption amount under the alternative minimum tax to $100,000 for married taxpayers filing joint tax returns and surviving spouses and to $75,000 for unmarried taxpayers. Increases the phase-out levels for calculating reductions in the such exemption amount and the rate of phase-out. Provides for an inflation adjustment to the exemption amount and phase-out level. Exempts the amendments made by this Act from the general terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (December 31, 2010).