Current Issues
by Steve Jordahl, correspondent
SUMMARY: Estate tax may be nearing its own death
There will be a vote to end the estate tax, often called the "death tax," by the end of this session of Congress, with or without cooperation from Democrats according to Sen. Jon Kyl, R-Ariz. He expects something to come to the floor of the Senate before the end of July -- perhaps sooner.
Adam Hughes of Americans for a Fair Estate Tax said
there's little reason for Democrats to hurry.
"We have plenty of time. There's not going to be a problem with the estate tax until 2009," he said. "So that's three years. So I think that would be fine if nothing happened until then.
He added that from his point of view, the comments by Kyl were the result of political pressure.
But Kyl noted the very reason for a deadline was to prevent the issue from becoming politicized.
Supporters of repeal, such as Peter Ferrara of the
Institute for Policy Innovation, seem willing to accomplish the task a little bit at a time.
"I'm willing to support whatever deal Senator Kyl can get to eliminate as much of the tax as possible," he said.
"Our goal has to be to completely repeal it."
Kansas Sen. Sam Brownback and other Senate Republicans remain hopeful a compromise can be reached.
"So far the discussions are such that it looks like we are going to have a fair amount of bipartisan support on what we move forward on the death tax repeal," Brownback said.
He didn't rule out voting for repeal if a deal can't be struck.
"We have plenty of time. There's not going to be a problem with the estate tax until 2009," he said. "So that's three years. So I think that would be fine if nothing happened until then.
He added that from his point of view, the comments by Kyl were the result of political pressure.
But Kyl noted the very reason for a deadline was to prevent the issue from becoming politicized.
Supporters of repeal, such as Peter Ferrara of the
Institute for Policy Innovation, seem willing to accomplish the task a little bit at a time.
"I'm willing to support whatever deal Senator Kyl can get to eliminate as much of the tax as possible," he said.
"Our goal has to be to completely repeal it."
Kansas Sen. Sam Brownback and other Senate Republicans remain hopeful a compromise can be reached.
"So far the discussions are such that it looks like we are going to have a fair amount of bipartisan support on what we move forward on the death tax repeal," Brownback said.
He didn't rule out voting for repeal if a deal can't be struck.