House to Vote on Estate Tax Proposal

By: Associated Press
By: Associated Press

The House is expected to vote later today on a bill that would reduce estate taxes after 2011.

House Republican leaders have been trying to rework the current law, which eliminates the tax in 2010 but brings it back a year later.

Some GOP conservatives fear any House passed measure may not survive intact in the Senate.

The latest House compromise being offered to the Senate calls for estates of up to five (m) million dollars to be exempted and those worth up to 25 (m) million dollars taxed at rates equal to capital gains.

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