Monday, November 16, 2009

The House of Representatives Will Examine the Estate Tax This Week

Amidst all its work on health care reform, we'd started to wonder whether Congress had forgotten to set-up a tickler to remind itself that the estate tax exemption amount becomes unlimited on January 1, 2010 (meaning that there'd be no federal estate tax on anyone dying in 2010, no matter how wealthy, if current law remained unchanged).

Kim Dixon, though, reports in last Friday's Washington Post (here) that the House is expected to take up revisions to the estate tax framework sometime this week. As Dixon writes, the stakes are high:

At stake are billions of dollars in taxes the U.S. Treasury receives annually from the existing tax and the desire by wealthy Americans for certainty in planning how to dispose of their estates after death.


We wrote in early October (here) about the shifting tactics of interest groups with a stake in estate tax reform.