12/12/2009

WSJ Editorial and study by economists, Antony Davies and Pavel Yakovel of Duquesne University

On December 11, 2009, TaxProf provided two very interesting links regarding the estate tax -- a link to a recent Wall Street Journal editorial and another to a study by Anthony Davies and Pavel Yakovel of Duquesne University.  See WSJ: Let the Estate Tax Expire in Three Weeks (TaxProf Blog).

Dec 12, 2009 7:06:39 AM | Antony Davies, Economists, Pavel Yakovel, WSJ

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Some comments on the fate of federal estate tax in the Senate Below are some excerpts from two articles that discuss the fate of the federal estate tax in the Senate. Jeanne Sahadi, Estate tax: Cancel the death knell, CNN Money (12/4/09): The House bill now moves to the Senate, but its prospects there are less clear. For one thing, there are competing ideas in the upper chamber for what a permanent estate tax should look like. One leading bipartisan proposal in the Senate would set the exemption amount at $5 million and set the top estate tax rate at 35%. Most Republicans advocate for the lowest estate tax possible, but Democrats...
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According to House Majority Leader Steny Hoyer, estate state tax fix may be temporary and may be attached to defense spending bill On December 11, 2009, in an article titled, Rep Hoyer: Congress May Add Estate-Tax Fix To Defense Bill, Martin Vaughan (Dow Jones Newswires) reported: U.S. congressional Democrats may tack a temporary measure to prevent the repeal of the estate tax on a defense spending bill headed to the House floor next week, House Majority Leader Steny Hoyer House Majority Leader Steny Hoyer (D., Md.) said Friday. Hoyer said no decision has yet been made as to how many years the estate-tax measure will cover, and he said talks with the Senate are continuing about how to address the tax. ....

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