The Hill: Estate Tax May Become Another Nail-biter Debate When Lawmakers Return

In the article by Jay Heflin titled "Estate Tax May Become Another Nail-biter Debate When Lawmakers Return" and published in The Hill, Mr. Heflin analyzes how the issue of the estate tax will play out in the post-election lame-duck session.  The lawmakers vowed to fix the estate tax before January 1 of this year.  Yet, the issue has not been resolved yet.  One of the issues to be resolved is how to prevent the estate tax from returning to its re-2001 levels, which would mean that estates over 1million would be hit with a tax as high as 55%.  Several compromises have been proposed in the Congress, including a retroactive estate tax fix and exempting farmers from the tax.