Estate Tax Won’t be Settled Anytime Soon

As Congress nears its summer recess, it appears that legislators won’t make progress on the estate tax until September, or possibly even November after the midterm election. Senators Lincoln and Kyl had hoped to attach their estate tax provision to a small-business lending bill, but their measure doesn’t have enough support to overcome a filibuster.

While some legislators understand the importance of providing certainty for Americans planning their estates, others feel it is less urgent because it only affects relatively few voters.

See Mark Schoeff Jr., Congress Likely to Punt on Estate Tax Until Fall – Or Later, InvestmentNews, Aug. 18, 2010.

Special thanks to Peter Parlapiano (2011 MBA/M.S. PFP candidate, Texas Tech) for bringing this to my attention.