This week
Congress will consider legislation to make the repeal of the death
tax permanent.
The 2001 tax cut law phased out the death tax entirely by 2010,
but because of a "quirk" in budget act the death tax reappears in
full fury in 2011.
The bill under consideration would permanently extend death tax
repeal and is a major step in the direction of fundamental tax
reform.
This new legislation would yield the greatest economic gain
because estate planning would occur without the threat of the
punitive death tax reoccurring all at once in 2011.
