Sens. Kyl, Lincoln Introduce Long-Awaited Estate Tax Plan

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Senate Finance Committee members Lincoln and Kyl unveil a long-awaited estate tax plan that would allow the estates of taxpayers who die in 2010 to choose between the current rate of zero with a modified carryover basis or their plan establishing a top rate of 35 percent. The plan is filed as a motion to commit a small business lending bill (H.R. 5297) back to the Finance Committee for one day for the tax-writing panel to return the bill to the Senate with its estate tax plan.