In her recent blog Estate Tax: The Senate Does the Right Thing Rejecting Kyl and Nelson Amendments, Linda Beale, law professor at Wayne State University Law School, expresses gratitude that the Senate did not adopt any of the three estate tax amendments it voted on last week during its budget resolution deliberations.

Professor Beale goes on to add:

There is one not-so-bright note. The Baucus amendment to permanently extend the 2009 estate tax provisions--a $3.5 million exemption ($7 million per couple) and a 45 percent rate--was approved by the Senate. That is both too high (the exemption amount) and too low (the rate), but it is better than the Kyl and Nelson amendments.

Two points:

• both Kyl and Baucus have now shifted significantly further away from what once were pro-repeal positions on the estate tax. In 2006, Kyl proposed exemption at $5 million and a top of 15 percent -- 84 percent of the cost of repeal. Last week, he came in at $5 miilion and a 35 percent rate. Baucus last year proposed a $3.5 million exemption level, with a tiered rate structure of 15 percent, 25 percent and, for estates over $10 million, 35 percent -- 74 percent of repeal. Last week he proposed making the 2009 estate tax provisions permanent, $3.5 million exemption with a top rate of 45 percent -- 40 percent of the cost of repeal.
• given what a grab-bag of mixed fruit the Baucus amendment was, you cannot infer 97 votes for Baucus' estate tax position from the 97-1 vote for his amendment overall, but progressives have long regarded settling at the 2009 rate as a fiscal and moral victory

The ground has shifted in the Senate on the estate tax.

The Senate has just completed roll-call votes on the following estate tax amendments:

• Sen. Ben Nelson (D-NE), to allow the Finance Committee to craft deficit-neutral legislation to reform the estate tax by establishing an individual exemption of $5 million and a tax rate of 35 percent for the portion of estates above this amount. Rejected, 25-74.
  
  
• Sen. Jon Kyl (R-AZ), to allow the Finance Committee to craft estate tax reform legislation that establishes an individual exemption of $5 million, indexed for inflation and a tax rate of no more than 35 percent and to permanently extend the deduction for teachers? out of pocket expenses; reduces revenue totals and increases the deficit by more than $30 billion in 2011 and 2012. Rejected, 48-51.
  
  
• Sen. Jim DeMint (R-SC), to eliminate the estate tax. Rejected, 44-55.

Thanks to everyone who helped defeat these destructive amendments! Your efforts really paid off!

Bill Gates announced his opposition to estate tax repeal yesterday. Gates' father, Bill Gates Sr., has been a leader in the movement to oppose estate tax repeal and reductions.