Future of the Estate Tax Debate

Another article debating the future of the estate tax notes previously reported obstacles to resolution this year: preoccupation with health care reform and sharply differing bills moving through the Senate and the House. 

The article states following regarding the estate tax:

Democrats say they do want to keep the Bush tax cuts in place for middle- and lower-income families. But they want to let the cuts expire for upper-income households and for large inheritances. Mr. Obama has proposed permanently locking in the estate tax at the current 45% rate with a $3.5 million exclusion. Politically, if Democrats can maintain the status quo rather than let the tax disappear next year, they can avoid being portrayed as raising taxes when the levy reverts to its pre-Bush level in 2011.

See Jonathan Weisman, Estate Tax Faces Its own Life-And-Death Struggle, WSJ, Sept. 19, 2009.

Special thanks to Patrick S. Sylvester (Attorney & Counselor at Law, Sylvester Law Firm, PC) for bringing this article to my attention.