By MEREDITH SHINER | 9/2/10 12:38 PM EDT
Senate Minority Leader Mitch McConnell (R-Ky.) believes Senate Democrats and the White House might not have the votes to repeal the Bush era tax cuts for the wealthiest two percent of Americans.
by Michael O'brien - 09/02/10 11:24 AM ET
Congress is likely to finish work this year on setting a permanent estate tax, Sen. Chuck Grassley (R-Iowa) suggested Thursday.
Grassley, the ranking member of the Senate Finance Committee, suggested that Congress is likely to settle on an estate tax rate this year, and exempt up to $3.5 million of estates from taxation.
Rossi has particularly highlighted his opposition to the federal estate tax with visits to area businesses, including Seattle's GM Nameplate.
With all the focus on eliminating the Bush tax cuts and spurring the economy, President Obama and Congressional Democrats are tripping over themselves touting their small business tax breaks this election season. What they’re not mentioning is an automatic tax increase that will hit family-owned businesses hard, starting on New Year’s Day.
The American Family Business Foundation (AFBF) will host a luncheon briefing on September 16, 2010, to discuss what the return of the estate tax will mean for family business owners, workers, wages, and Americans needing jobs.
At the briefing, AFBF will release its new study analyzing the impact on hiring, payroll, and capital outlays of raising the estate tax from zero to as high as 65 percent, as Sen. Bernie Sanders has proposed. The findings will be presented by American Action Forum President and former Director of the Congressional Budget Office, Douglas Holtz-Eakin, who authored the report for AFBF.
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An area farmer who attended the meeting told Baucus that his father recently passed away and he was confused about the state of the estate tax.
Baucus said that issue will likely be decided by Congress next month.
Toll hits asset-rich, cash-poor farms especially hard
Call it a tribute to farmers' resilience and business sense. Or maybe it's just that farmers tend to keep their mouths shut about their personal business. Either way, annoying background noise muffles the voices of farmers who oppose the death tax or have been harmed by it.
Tags:
farmers, ranchers, agriculture, death tax, estate tax
The American Family Business Institute (AFBI), a Washington-based trade association representing family-owned businesses, ranches and farms, will host a July 22 press conference in Las Vegas with U.S. Senate candidate Sharron Angle and Brady Industries’ President Travis Brady on estate-tax repeal.
Sharron Angle to Sign Death Tax Repeal Pledge at Reno’s Advanced Refining Concepts’ Facility
Tags:
nevada, press conference, repeal pledge
Congress Should Focus on Repeal, not Reinstatement
Washington, D.C. – Yesterday Senators Bernie Sanders (D-VT), Sheldon Whitehouse (D-RI), Tom Harkin (D-IA), and Sherrod Brown (D-OH) introduced the misnamed “Responsible Estate Tax Act,” which seeks to impose death tax rates topping 65 percent.
Tags:
sanders, whitehouse, harkin, death tax, small business, family business
Rep. Darrell Issa argues for ending the Death Tax
America sits at the same economic crossroads today that Sweden faced five years ago. Sweden’s experience in eliminating the death tax could help the United States save businesses and add jobs at a critical time.
Tags:
death tax, international, sweden
Vote No on Temporary Patch Legislation in Defense Appropriations
House Doles Out Big Bucks to Big Business, Yet Plans to Stiff Minority and Family Businesses with Crippling Estate Tax Bills?
