Extending the present exemptions for the estate and related taxes seems to be the current trend in Congress. Justin Sink at the Hill reports the following:
Some Republicans have suggested a compromise might be found in allowing Bush-era tax rates to rise only on annual incomes above $400,000. Talk of a “mini-plan” that would include an extension of current tax rates under $400,000 along with an extension of the current estate tax rate swept through the Capitol on Friday.
On the other hand, it is appearing likely I was wrong in predicting they would pass the Middle Class Tax Cut Act at the last minute. However, we are not at the last minute yet so
We shall see.
Estate Tax News Blog