NRA Savors Temporary Win In Estate Tax Fight
The decision by the House of Representatives last week to abolish the estate tax was a big win for the National Restaurant Association, which has made that issue a key part of its legislative agenda.
But the Senate, which is due to vote on the matter by the end of the
month, could pose a stiffer challenge.
The House voted 256-171 on June 6 to make permanent a repeal of the estate tax. Forty-one Democrats joined 214 Republicans and one independent in support of the measure.
"Burying this unfair tax once and for all will allow families to pass their restaurants on to the next generation," NRA chief executive Steven Anderson said after the vote.
Under current law, the amount of wealth exempt from the estate tax will gradually rise to $3.5 million in 2009 before the tax reverts to 2001 levels in 2010.
Senate Majority Leader Tom Daschle has promised a vote on permanent repeal by June 28, although he's been working behind the scenes to defeat the measure, according to press reports. There are 47 Republicans, 52 Democrats and one independent in the Senate.
But the Senate, which is due to vote on the matter by the end of the
The House voted 256-171 on June 6 to make permanent a repeal of the estate tax. Forty-one Democrats joined 214 Republicans and one independent in support of the measure.
"Burying this unfair tax once and for all will allow families to pass their restaurants on to the next generation," NRA chief executive Steven Anderson said after the vote.
Under current law, the amount of wealth exempt from the estate tax will gradually rise to $3.5 million in 2009 before the tax reverts to 2001 levels in 2010.
Senate Majority Leader Tom Daschle has promised a vote on permanent repeal by June 28, although he's been working behind the scenes to defeat the measure, according to press reports. There are 47 Republicans, 52 Democrats and one independent in the Senate.
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