Checkpoint’s “Newsstand”, a service of Thomson Reuters, reported in its daily email the exact quote from Sander Levin in his meeting with reporters on Wednesday:
On March 16, House Ways and Means Committee Acting Chair Sander Levin (D-MI) said that he would like to take up the “Bush” tax cuts and the estate tax after returning from the April recess scheduled for March 29 through April 9. “The sooner we do it the better,” said Levin.
“We need to renew the Bush tax cuts for middle class families, and not for the very high income families; renew and continue the estate tax as it was in place,” Levin said. He also said that he expects Congress to reinstate the estate tax using the 45% top rate and $3.5 million exemption that were in effect in 2009. “We need to get going on the estate tax. I think we have to write it so that we don’t disrupt estate planning in this country. The sooner we do it the better. The longer the vacuum the more difficult it becomes. We ought to do this if not before we leave, when we come back,” Levin said.
It does appear he will try to get the House to deal with the issue. However, what the Senate will do is another matter.
By Kevin Staker