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ESTATE TAX REPEAL VOTE DELAYED UNTIL SEPTEMBER
July 28, 2005
The showdown over the repeal of the estate tax has been delayed until September, reports Tax Analysts. Senate Majority Leader Frist will file a cloture motion on the bill, which would enable it to come to a vote.
This will allow Minority Leader Max Baucus and Republican negotiator John Kyl additional time to work out a compromise:
While Kyl has been pushing for a vote on full repeal to speed Democratic deal making, Baucus has repeatedly asked for more patience in achieving a Democratic consensus. Kyl has proposed an estate tax rate tied to the 15 percent capital gains rate and an $8 billion individual exemption. Baucus has yet to present a formal offer.
Related:
National Public Radio story from this morning on estate tax repeal efforts
NPR debate over the estate tax between Gene Sperling and Grover Norquist
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