House to Consider Permanent Estate Tax Relief


The House is scheduled to take up H.R. 4154, the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009, introduced by Rep. Earl Pomeroy, (D-N.D.).  The House Rules Committee is expected to meet Wednesday afternoon with floor consideration likely on Thursday.

The bill makes permanent the current estate tax exemption of $3.5 million per person and the top rate of 45 percent. The exemption is not indexed for inflation. The bill mirrors a provision passed in this year’s budget resolution to allow a permanent extension of current law without an offset. It is anticipated that statutory pay-go will be attached to the legislation by the Rules Committee, a condition negotiated by the Blue Dog Coalition earlier this year.

Farm Bureau supports H.R. 3905, legislation introduced by Reps. Shelley Berkley (D-Nev.) and Kevin Brady (R-Texas) to phase-in an increase in the estate tax exemption from $3.5 million to $5 million per person and to phase-in a reduction of the top rate from 45 percent to 35 percent over 10 years. It is not yet known if the rule will allow for a vote on the Berkley/Brady bill.

The House is scheduled to take up H.R. 4154, the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009, introduced by Rep. Earl Pomeroy, (D-N.D.).  The House Rules Committee is expected to meet Wednesday afternoon with floor consideration likely on Thursday.

The bill makes permanent the current estate tax exemption of $3.5 million per person and the top rate of 45 percent. The exemption is not indexed for inflation. The bill mirrors a provision passed in this year’s budget resolution to allow a permanent extension of current law without an offset. It is anticipated that statutory pay-go will be attached to the legislation by the Rules Committee, a condition negotiated by the Blue Dog Coalition earlier this year.

Farm Bureau supports H.R. 3905, legislation introduced by Reps. Shelley Berkley (D-Nev.) and Kevin Brady (R-Texas) to phase-in an increase in the estate tax exemption from $3.5 million to $5 million per person and to phase-in a reduction of the top rate from 45 percent to 35 percent over 10 years. It is not yet known if the rule will allow for a vote on the Berkley/Brady bill.

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