Is a Senate Estate Tax Compromise in the Works? I Doubt It...

As H.R. 1259, The Bipartisan Death Tax Repeal Permanency Act, gains momentum in the House, Josh Kosman has reported for the New York Post that Senate Republicans are quietly working with Democrats to hash out an estate tax compromise instead of pushing for complete repeal. According to a Republican source, leaders in both parties like the current $5 million exemption, but while Republicans want to keep the current 35% tax rate, Democrats want to raise the tax rate to 45%, which is the same rate that was in effect in 2009. Apparently plans are being made to bring an estate tax bill to the floor after the debt-ceiling issue has been resolved. As usual, I won't be holding my breath.

• Josh Kosman - Senate eyes compromise on estate tax
• Revisiting H.R. 1259, The Bipartisan Death Tax Repeal Permanency Act
• Overview of Current Federal Estate Tax Laws
• Share your opinion - Should the Federal Estate Tax Be Repealed?