On November 5, 2010, NASDAQ.com published Business Groups Back Quick Compromise On Estate Tax, by Martin Vaughan:
Business groups that oppose the federal estate tax say they are willing to back a short-term compromise with congressional Democrats, in order to avoid the tax returning to its highest level in 10 years.
However, Republicans in Congress aren't ready to back down from their demands for an estate tax rate of 35%, setting up one of the more unpredictable tax battles in Congress's lame-duck session.
A political stalemate would be the worst possible outcome for the business lobby. . . .
Even mainstream Democrats want to prevent the higher rates from taking effect in 2011. They have proposed a permanent rate of 45%, with the first $3.5 million of estate wealth exempt--the parameters that were in effect in 2009.