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Strong support for current estate tax policy

Thursday, December 13, 2012   (0 Comments)
Posted by: Liz Walz
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Meetings in the Senate on repeal of the estate tax contained in the Bush-era tax cut legislation confirm there is strong support for continuing current estate tax policy of a $5 million exemption and a 35-percent tax rate. Senators Baucus (D-Montana), Landrieu (D-Louisiana), Tester (D-Montana), Pryor (D-Arkansas), and McCaskill (D-Missouri have said they would continue to support current policy.            

Many Republicans already support retention of current estate tax policy so these Democrats are important to ensure passage. However, the key will be if language to continue current estate tax policy will be included in the Fiscal Cliff bill when it comes up for a floor vote.