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SENATOR GRASSLEY: ESTATE TAX REPEAL "UNSEEMLY"
September 16, 2005
Senator Grassley gave a broad hint that there will be no estate tax compromise, or repeal, in 2005. The Des Moines Register reported yesterday:
Grassley, in a conference call with Iowa reporters, said he believes debate over the repeal will be postponed.
"It's a little unseemly to be talking about doing away with or enhancing the estate tax at a time when people are suffering," said Grassley, a Republican who is in charge of the committee that writes U.S. tax policy.
"It wouldn't surprise me if nothing's going to happen during the year 2005," he said.
Prior to the hurricane, the Senate had been slated to vote to repeal the estate tax - a vote that Senator Grassley said had "zero" chances of garnering the 60 votes needed. He had said that agreement was near on a compromise to raise the exemption and lower the estate tax rate to 15%, but that seems to be on hold for now.
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