Friday, February 12, 2010

Is Estate Tax Legislation Upon Us?

It appears as though Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell are in talks to negotiate a deal in which a bipartisan jobs bill and an estate tax bill would make their way through the Senate without much pushback from either side.

Word on the street is that Senator Reid's legislation would hit the floor just after the President's Day recess. While it's not entirely clear what type of compromise both sides will agree to, House Bill (HR 4154), which we reviewed last December when it was passed, is an option. Either way, it's reasonable to believe that the 2009 laws may be made permanent, but don't be surprised to see an indexed for inflation provision and possible portability at some point. Stay tuned.

-Attorney Jeremy Cooper

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