In a January 14, 2010 Wall Street Journal article, Martin Vaughan reported that Rep. Charles Rangel (D., N.Y.) is "unsure whether there will be legislation to re-impose the federal estate tax retroactive to Jan. 1."
Vaughan also reported that "Sen. Max Baucus (D., Mont.), chairman of the Finance Committee, has said he wants a retroactive law that will ensure the estate tax remains in effect throughout 2010."
The article closes with the following:
"Sen. Baucus is in contact with Chairman Rangel and continues to work with Sen. Grassley to develop a viable, fiscally-responsible proposal that provides a seamless fix with the fewest disruptions and administrative problems," a spokesman for Baucus said. The spokesman was referring to Sen. Charles Grassley (R., Iowa), the senior Republican on the Finance Committee.
"His goal remains addressing it quickly and in the most complete and permanent way possible that is fair to American taxpayers," the spokesman said of Baucus.
Quickly? Completely? Permanently? Fairly? These words might evoke noble ideals, but our experience gives them the hollow ring of mere rhetoric.