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.
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.