Is a $5,000,000 exemption with maximum 35% estate tax in sight?

According to the New York Times, “negotiators were * * * close to an agreement to restore the federal estate tax * * * with an exemption of up to $5 million per individual, and a maximum rate of 35 percent.”

See David M. Herszenhorn & Jackie Calmes, Deal Would Reportedly Drop a Tax Credit, N.Y. Times, Dec. 6, 2010.