Paul L. Caron
Dean


Tuesday, March 9, 2010

Business Lobbyists Push to Revive Estate Tax They Tried to Kill

Bloomberg, Business Lobbyists Push to Revive Estate Tax They Tried to Kill:

Lobbyists for small businesses, construction companies, manufacturers and other trade groups are racing the clock to convince Congress to reinstate the federal estate tax they’ve fought for years to abolish.

The National Federation of Independent Business and more than 40 business organizations wrote Senate and House leaders last week asking for quick action on a proposed 35 percent levy on inheritances worth more than $10 million per couple. The Associated General Contractors of America is urging members to contact lawmakers about the plan.

The groups have changed positions in a bid to head off higher taxes on the horizon: Unless Congress acts, current law would raise the tax next year to 55 percent on estates after they exceed $2 million per couple, from nothing this year.

https://taxprof.typepad.com/taxprof_blog/2010/03/business-lobbyists.html

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Comments

It's misleading to describe this as urging reinstatement. What they are urging is further reduction in estate taxes, which they recognize will be easier to get this year (when we have temporary repeal to be followed by a spring back to the pre-Bush version in 2011) than after the spring back occurs next year.

Posted by: stop, look and listen | Mar 9, 2010 6:54:25 PM