Baucus Confirms Plans to Move Short-Term Estate Tax Extension

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Senate Finance Committee Chairman Baucus concedes that a one- or two-year extension of the estate tax is likely despite his preference to make the tax permanent. The current plan being floated in the House is to attach an extension of 2009 tax rates and exemption levels to the fiscal year 2010 defense appropriations bill (H.R. 3326). Asked if the estate tax measure will be attached to the defense bill, Baucus, reflecting the current fluid nature of everything in the Senate, says, “it looks like it, or maybe somewhere else.”