No surprise here. With its “busy fall agenda” the debate over the estate tax is likely to wait. It’s not like they haven’t known of this upcoming problem for the past 9 years or so.
A split among Democrats and a busy fall agenda is likely to have lawmakers hold off this year on debating the future of the estate tax, even though it expires at the end of the year.
Experts and aides say a more realistic scenario involves Congress passing a one-year extension and then tackling the issue as part of broader tax reform next year.
The estate tax hits people who inherit high-value property after a death, and Democrats are keen on avoiding the loss of much-needed revenue when it expires.
For more, see Debate over estate tax likely to wait, The Hill, September 15, 2009.