LEGISLATIVE ISSUES — CAN A LAME DUCK FLY?

The estate tax repeal sunsets on December 31, 2010, notes the PIA/GATF vice president of government affairs. Making the repeal permanent before then, while ideal, isn’t realistic under the current Democratic Congressional hold.

According to USA Today, the tax rate is up to 46 percent on estates that exceed $2 million. Barring permanent repeal or reform, that high end rate will reach 60 percent in 2011 and the tax will kick in at $1 million. Increasing the exemption trigger substantially could be the basis for reform.