Congress and the Death Tax: Punt, Pass and Kick Off

By November 18, 2009General

Catching up on the death tax, we see in CQ Politics, “Ways and Means Democrats Buck Their Chairman on Estate Tax“:

House Ways and Means Committee Democrats support a one-year extension of current estate tax levels, a significant departure from plans laid out by House leaders and panel Chairman Charles B. Rangel .

During a meeting Wednesday morning, committee Democrats agreed to back a one-year extension and tie it to a broader overhaul of the tax code in 2010, said committee members John B. Larson , D-Conn., and Richard E. Neal , D-Mass…[snip]

But Rangel, D-N.Y., and Majority Leader Steny H. Hoyer , D-Md., have been seeking a permanent extension of current law, which would cost $233.6 billion over 10 years but would not have to be offset under the budget framework backed by Democrats.

Dow Jones also covers the story, “House Democrats To Ditch Permanent Estate Tax Bill For 1-Year Fix,” citing the NAM’s spokesman on the issue:

“It would be disappointing if Congress chose not to take on substantial estate tax reform this year,” said Dena Battle, director of tax policy at the National Association of Manufacturers. “We are still working with lawmakers in the House and Senate on legislation that would give our members the relief they need.”


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