 Congressional Action
What is the current legislative outlook for the estate tax? The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) phased the estate tax out over ten years. Under EGTRRA, the estate tax is fully repealed for 2010 but returns to the 2001 levels (55% tax rate and $1 million exemption) in 2011. For 2009, the tax rate is 45% and the exemption level is $3.5 million.
Congress is currently considering a number of options for the estate tax for 2010 and beyond. Read the official statement from the Family Business Estate Tax Coalition regarding the recent estate tax compromise in the proposed tax package (December 2010). Congressional CommunicationsFBETC Letter to Sen. Max Baucus (D-MT)
December 2010 FBETC Letter to Rep. Dave Camp (R-4th-MI)
December 2010 FBETC Letter to Secretary Tim Geithner (U.S. Treasury Department)
December 2010 FBETC Letter to Director Jacob Lew (OMB)
December 2010 FBETC Letter to Sen. Jon Kyl (R-AZ)
December 2010 FBETC Letter to Rep. Chris Van Hollen (D-8th-MD)
December 2010 Letter to the US Senate Promoting Permanent Estate Tax Reform
March 3, 2010 Letter to the US House Promoting Permanent Estate Tax Reform
March 3, 2010 | 
