California Estate Planning Blog by Kevin Staker

July 23, 2010

Baucus Looks to September for Estate Tax Changes

Filed under: Uncategorized — Kevin Staker @ 2:09 pm
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Dow Jones Newswires in a story by Martin Vaughan states that Senate Finance Committee Chair Baucus met with the members of his committee Thursday evening and they discussed among other issues, what to do about the estate tax.  The story lays out the following (sorry, the author is on vacation and does not have enough time to put this in his own words):

Baucus held a meeting with Republicans and Democrats on his committee Thursday evening to begin discussing how to deal with the approaching expiration of the tax cuts.

Baucus raised the possibility of a September committee vote, people present said. Aides cautioned that no conclusions about what to do or when to do it were reached at the meeting.

“This was more exploratory, figuring out what is the best policy for our country,” Baucus told reporters after the meeting.

One option discussed during the meeting was wrapping several tax bills that have up until now been distinct into one piece of legislation for committee mark-up, the people said. That could include extensions of the Bush tax cuts, including the estate tax, a provision to shield most people from the alternative minimum tax, and extensions of tax breaks for businesses that bogged down in the Senate last month.

The article is located at http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201007222041dowjonesdjonline000811&title=september-eyed-for-senate-committee-vote-on-extending-tax-cuts#ixzz0uW3tMydG

By Kevin Staker

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