California Estate Planning Blog by Kevin Staker

August 4, 2010

Encouraging News: Majority Leader Reid Intends to Bring Tax Issues to Senate Floor in September

Filed under: estate tax,Kevin Staker — Kevin Staker @ 9:56 pm
Tags: ,

Andrew Bolton at the Hill reports that the spokesman for Senate Majority Leader Harry Reid has announced that Mr. Reid intends to bring the issue of the Bush tax cuts to the Senate Floor in September.  One has to appreciate his courage in doing what is right: making the Congress face up to this issue and go on record before the November elections.  These tax issues, of course, include what to do about the estate tax.

In a later post, we will take a look into the crystal ball and try to predict the outcome.  A preview – he must think he will have the votes to uphold the Democrats’ position:  extend income tax cuts for all except the higher income folk and raise the estate tax exemption to only $3,500,000.  Otherwise, he would not waste the time and effort.

The article can be found at http://thehill.com/homenews/senate/112641-reid-plans-september-showdown-on-bush-tax-cuts?page=3#comments

By Kevin Staker

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