Tags: US | Estate | Tax

Senators Move to Revive Estate Tax at Reduced Rate

Friday, 16 Jul 2010 12:49 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Two senators, a Democrat and a Republican, are pushing to revive the expired estate tax at a reduced rate.

Democrat Blanche Lincoln of Arkansas and Republican Jon Kyl of Arizona hope to attach the new estate tax to a small business lending bill pending in the Senate. Their bill would set the top estate tax rate at 35 percent, with a per-person exemption of $5 million, indexed to inflation.

In 2009, the top estate tax rate was 45 percent with a per-person exemption of $3.5 million. Congress allowed the estate tax to expire this year, but it is scheduled to come back next year with a top rate of 55 percent, unless Congress acts.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Franken Opposes Obama Treasury Nominee

Sunday, 28 Dec 2014 22:56 PM

Democrat Sen. Al Franken is urging supporters to join him in opposing President Barack Obama's nominee for Treasury Depa . . .

Grand Ole Opry's Little Jimmy Dickens Hospitalized

Sunday, 28 Dec 2014 22:36 PM

Grand Ole Opry legend Little Jimmy Dickens has been hospitalized with an undisclosed illness. Jessie Schmidt, a publicis . . .

'Possible Discharge' May Come Soon for George HW Bush

Sunday, 28 Dec 2014 20:53 PM

A spokesman for George H.W. Bush says that the former president will remain in a Houston hospital for now but that news  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved