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Estate Tax Letter to the Senate -- OMB Watch, along with more than 740 national, state, and local organizations, sent a letter to all U.S. Senators to voice their strong opposition to repeal or irresponsible "reform" of the estate tax. The June 8 vote on a cloture motion to proceed with a vote on estate tax repeal was defeated by the Senate 57-41.

News

Despite New Majority in Congress, Fiscal Policy Still Mostly Stuck in Neutral 12/18/2007
A new congressional majority in 2007 promised a clean break from past practices of a Congress noted for its corruption, dysfunction and profligacy. It moved on a modest agenda and successfully enacted a few important policies, but overall, it failed to chart a new direction in fiscal policy. This failure was due in large part to the majority underestimating the ability and willingness of a coalition of conservative policymakers and the president to fiercely obstruct even the modest reform policies on the new Congress's agenda. Read More

Estate Tax Repeal No Longer on the Table 11/20/2007
On Nov. 14, the Senate Finance Committee dedicated time to a hearing to investigate uncertainty in estate tax law, despite a plethora of more pressing fiscal issues facing the current Congress. Read More

Threat of Estate Tax Rollback Finished for 2006 11/21/2006
Outgoing Senate Majority Leader Bill Frist (R-TN) admitted last week the Senate was unlikely to pass any permanent reduction to the estate tax in 2006, despite repeated attempts and rhetorical ultimatums from Frist and his allies. Read More

A Fiscal Policy Review of the 109th Congress 10/24/2006
With just a few short post-election, lame-duck weeks left, the 109th Congress will leave behind a legacy of woefully inadequate action on fiscal policy. With a set of fiscal challenges that included the need for comprehensive tax reform, concerns over Social Security insolvency, large and growing deficits, the 109th Congress' list of accomplishments is almost non-existent. Read More

Another Estate Tax Vote Unlikely During This Congress 09/26/2006
With Congress now in its final week before adjourning for the midterm elections, the death knell may finally be sounding for the "trifecta" package (H.R. 5970), a bill lumping together popular tax credit extensions, a permanent reduction in the estate tax, and an increase in the minimum wage. Read More

Trifecta Bill May Resurface in Senate This Month 09/12/2006
The fate of the "trifecta" bill and middle-class tax cuts remains uncertain, as GOP leaders send mixed signals about their intentions and the GOP ranks appear restless. Read More

Strange Happenings at the IRS Could Affect Enforcement 08/22/2006
This fall, the Internal Revenue Service will likely make two changes to its tax enforcement efforts that defy logical explanation. IRS Commissioner Mark Everson will soon go forward with plans to cut nearly half its staff of estate tax auditors and to create a program that would allow private companies to pursue taxpayers who owe back taxes. Read More

Senate Defeats Estate Tax Giveaway...Yet Again 08/08/2006
The Senate voted last week to reject a tax and wage package dubbed the "trifecta" that would have slashed the estate tax permanently, increased the minimum wage modestly, and extended a broad set of tax breaks. The bill, passed by the House last month, also contained a number of "sweeteners" to entice targeted senators to vote for the bill. Read More

Last-Minute Attempt to Add Estate Tax to Pension Reforms Fails 07/25/2006
Over the last week, Capitol Hill has been abuzz with speculation that House and Senate GOP leaders were engaging in a last-ditch effort to attach a provision gutting the estate tax to a sensitive and complicated pension reform conference report. The sneaky move failed, however, as Senate Majority Leader Bill First (R-TN) announced today he could not convince a number of key Republicans, particularly Sen. Olympia Snowe (R-ME), to support it. In related news, President Bush has moved to gut IRS estate tax enforcement. Read More

Back From the Dead: Estate Tax "Compromise" Could Move in Senate Soon 06/27/2006
The House voted last week to approve an estate tax "compromise" that is, in reality, backdoor repeal of the tax. The vote clears the way for another Senate vote on the estate tax, following the Senate's rejection of repeal earlier this month. Read More

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