Permanent Repeal of Estate Tax Is Put Down by Vote in Senate
Wall Street Journal (06/13/02) p.A1; Murray, Shailagh

The Senate yesterday voted to reject a repeal of the estate tax, meaning the gradual elimination of the tax through 2010 will not be made permanent, and leaving many unsure about planning their estates for the future. Some say Democrats have argued that a permanent repeal of the tax would cost the government $56 billion in lost revenues in 2012, but Republicans argue the death tax would only tax funds which have already been taxed. Experts say the issue is sure to be taken up again, as Congress still seeks to give small businesses and family farmers relief from the tax.


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