For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
House Democratic leaders are considering making a counteroffer to the White House and congressional Republicans that would extend the estate tax at a less generous rate, Rep. Van Hollen says. Van Hollen calls the president's agreement to cut the estate tax rate to 35 percent and set the exemption level at $5 million per person an “egregious” change, reflecting House Democrats' widely held views that the provision would benefit only the wealthiest families in America. Meanwhile, the Senate could get to the tax bill in the “next day or two,” Majority Leader Reid tells reporters. Senior administration officials warn that the economy could dip into another recession if Congress does not pass soon a compromise package of tax cuts agreed to by President Obama.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)