Berkley Introduced Bill Solidifying Estate Tax Gains
Congresswoman Shelley Berkley (D-NV) introduced legislation making the estate tax relief in the 2010 Tax Act permanent, solidifying the lower 35% rate, higher $5 million exemption indexed for inflation, reunification and spousal portability. Policy and Taxation Group will be working hard to secure cosponsors on this legislation and prevent the return of a confiscatory 55% rate and $1 million exemption in 2013.
Congressman Kevin Brady’s (R-TX) estate tax repeal bill is now a little more bipartisan. Congressman Sanford Bishop (D-GA), a member of the Congressional Black Caucus, became the third Democrat to cosponsor the bill, joining Congressmen Mike Ross (D-AR) and Dan Boren (D-OK).