Estate Tax Archive
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Contrary to Claims, Allowing Estate Tax to Expire Would Make Family Farms and Small Businesses Worse off Overall
December 17, 2009
While estate-tax opponents have held up family-owned farms and small businesses as “poster children” for the benefits of repealing the tax, such estates would be worse off, on balance, if Congress allows estate tax repeal and related tax changes to take effect on January 1, as now seems likely. The estate tax is irrelevant to the … -
Statement: Chuck Marr, Director of Federal Tax Policy, on the Senate Debate on the Federal Estate Tax
December 16, 2009
Today’s Senate debate over whether to extend the federal estate tax or let it expire for next year is a study in irony. Under current law, the estate tax, which has been reduced very significantly since 2001 and now only affects the biggest 1 of every 500 estates in America, will expire next … -
Statement: Chuck Marr, Director of Federal Tax Policy, on House Consideration of the Estate Tax
December 3, 2009
In recent years Congress has greatly reduced the federal estate tax, which affects only the nation’s very largest estates, and the House should reject any effort this week to reduce it beyond its current parameters. The country is suffering from the worst economic crisis since the Great Depression, with more than one in ten … -
Congress Should Not Weaken the Estate Tax Beyond 2009 Parameters
December 2, 2009
The House of Representatives this week is expected to consider permanently extending the current estate tax, under which only 1 in 500 estates face the tax and those that do pay, on average, an effective rate of less than 20 percent. The House will vote on the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act … -
Berkley Estate Tax Bill Would Add Billions to Deficit While Benefiting Only Wealthiest 1 in 500 Estates
Revised November 9, 2009
A new estate tax bill introduced by Representative Shelley Berkley (D-NV) and others would cost $91 billion more over the first decade (2012-2021) than extending the tax under its current rules as the President has proposed, yet would benefit only the nation’s wealthiest 0.2 percent of estates since they are the only ones … -
Podcast: The Estate Tax
July 14, 2009
Director of Federal Tax Policy, Chuck Marr, discusses the basics of the estate tax and the debate about it in Congress.
Duration: 5:04
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Reports Calling for Estate Tax Repeal Seriously Flawed
July 7, 2009
Despite questionable reports to the contrary, repealing the estate tax would weaken the economy by adding nearly $800 billion to budget deficits over 10 years, thus reducing national saving and leaving fewer funds for investment that leads to higher productivity in the long run. Two recent reports from the American Family Business … -
The Senate and the Estate Tax: Cutting Through the Fog
April 16, 2009
View more up to date information about the estate tax:: Policy Basics: The Estate Tax June 14, 2010 Earlier this month, the Senate voted on an amendment to the budget resolution, offered by Senators Jon Kyl and Blanche Lincoln, to shrink the estate tax in various ways. A number of major newspapers, including the New York Times and Washington … -
Huffington Post Op-Ed: Senate to Uber-Rich: “Help Is on the Way”
April 13, 2009
"...Is this the time to spend about $90 billion over the next decade to give the nation's wealthiest households a new, multi-million-dollar tax cut? The U.S. Senate apparently thinks so." Read more -
Lincoln-Kyl Estate Tax Amendment is Both Unnecessary and Unaffordable
Revised April 10, 2009
On April 2 the Senate narrowly adopted (by a 51-48 vote) an amendment to the budget resolution by Senators Blanche Lincoln and Jon Kyl that would substantially weaken the estate tax. This proposal is both fiscally irresponsible — it would pave the way for a significant increase in … -
Congress Should Not Weaken Estate Tax Beyond 2009 Parameters
Revised March 11, 2009
The Administration’s recently-released budget proposes to make permanent key features of the estate tax that are in place in 2009. This will launch a major congressional debate. Under current law, the tax has been phasing down for several years and is scheduled to end entirely in 2010, only to return in 2011 under the parameters that were in place in … -
Impact of Estate Tax on Small Businesses and Farms Is Minimal
February 23, 2009
Congress is expected to debate permanent changes in the estate tax in coming months. A key issue in that policy debate is likely to be the effect of the estate tax on estates containing small businesses and family-owned farms.[1] Some proponents of repealing or weakening the estate tax beyond its current form claim that doing is so is necessary because of the impact of the tax on small business and … -
Slideshow: The Estate Tax
Updated February 23, 2009
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Big Misconceptions about Small Businesses and Taxes
Updated February 2, 2009
Supporters of various tax benefits for high-income households often claim that failure to maintain them would have an undue effect on many small businesses. But even assuming a broad definition of “small business,” such claims are often exaggerated or false. This paper examines three such claims. First, critics … -
Proponents of Estate Tax Repeal Resurrecting Old Misconceptions
February 2, 2009
With Congress expected to debate permanent changes in the estate tax in coming months, some proponents of repealing the tax or weakening it beyond its current form are resurrecting old misconceptions about the tax. For example, a recent Wall Street Journal editorial claimed that repealing the estate tax would increase national saving and that U.S. estate taxes are high … -
The High Cost of Estate Tax Repeal
Revised January 28, 2009
View more up-to-date data: Policy Basics: The Estate Tax June 14, 2010 Making permanent the repeal of the estate tax after 2010 — repeatedly proposed by President Bush— would add almost $1.3 trillion to the deficit between fiscal years 2012 and 2021, the first ten years in which the full costs of extending repeal would be reflected in …
