No Deal Yet on Estate Tax

This CQ article reports some lawmakers' concern that there could be an estate tax-free 2010, then a massive estate tax hike in 2011 if a deal isn't reached very soon this year. The House recently passed a permanent extension of 2009's $3.5 mil exemption and 45% tax rate, but the extension is not indexed for inflation. In the Senate, the Family Business Estate Tax Coalition, of which HARDI is a member, has been successful in generating strong bi-partisan support for an extenstion that includes a $5 mil exemption and 35% tax rate. Hence the log-jam between the two chambers.