Signs suggest that Ways and Means Committee attention to the estate tax might come soon.
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Analysis of revenue raisers by the staff of the Joint Committee on Taxation raises fascinating questions, but the big question remains what Congress will do about the estate tax itself.
Administration’s revenue raisers would require consistency in determining basis, limit valuation discounts, and impose a minimum ten-year term on GRATs.
The Senate employs nearly inscrutable budget techniques regarding the estate tax, and President Obama selects the new Assistant Secretary of the Treasury for Tax Policy.
An important Senate bill would make 2009 estate tax law permanent, reconform the gift tax to the estate tax, and make the estate and gift tax unified credit portable between spouses.
Grand themes play out on our televisions, while mundane issues still hold our interest.