Action on the Estate Tax in July?
Posted: Tuesday, July 13, 2010
Though most pundits do not expect that legislative action will be taken on the estate tax until later in the year, discussion of the estate tax was revived on June 24 with the introduction of S. 3533, “The Responsible Estate Tax Act” by Senator Bernie Sanders (I-VT). S. 3533 would reinstate estate tax provisions which were in effect in 2009 – a $3.5 million per person exemption and 45 percent tax rate on estates – but would apply higher tax rates to estates over $10 million.
Read the bill.
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