Senate Rejects Estate Tax Debate
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
WASHINGTON (AP) – Senators voted Thursday to reject a Republican effort to abolish taxes on inherited estates during an election year with control of Congress at stake.
GOP leaders had pushed senators to permanently eliminate the estate tax, which disappears in 2010 under President Bush’s first tax cut, but rears up again a year later.
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