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Wednesday, January 13, 2010

Rep. Rangel "Unsure" if Congress Will Retroactively Reinstate Estate Tax

Wall Street Journal, Rep. Rangel: Unsure If a Retroactive Estate Tax Will be Passed, by Martin Vaughan:

Rep. Charles Rangel (D., N.Y.), chairman of the House Ways and Means Committee, said he is unsure whether there will be legislation to re-impose the federal estate tax retroactive to Jan. 1. ... Asked Tuesday evening whether Congress will reinstate the tax once health-care talks have concluded, Rangel said, "Of course." But he wavered on whether the tax would be made retroactive so that the estates of people who die in early 2010, before congressional action, will not escape tax. ...

His Senate counterpart, Sen. Max Baucus (D., Mont.), chairman of the Finance Committee, has said he wants a retroactive law that will ensure the estate tax remains in effect throughout 2010.

http://taxprof.typepad.com/taxprof_blog/2010/01/rep-rangel-unsure.html

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