Thursday, September 01, 2005

The "death" tax won't die

Senate Majority Leader Frist has called for legislation to eliminate the estate tax to be considered this fall. However, Senate Finance Chairman Grassley effectively has said that eliminating the estate tax has no chance and that he is working on a compromise that will raise the exempted amount to $4 million or more and probably reduce the top estate tax rate as well. Grassley's goal is to cut the estimated $300 billion revenue loss of eliminating the estate tax in half.


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