Estate tax reform delayed

Earlier this year a compromise on the future of the federal estate tax looked possible. Senators Kyl and Baucus were negotiating a middle ground that might attract enough democratic votes to avoid a filibuster. However this item from Tax Notes (paid subscription required) indicates that nothing will happen before the August recess. Senate Majority Leader Frist was threatening to call for a vote on full estate tax repeal, but Finance Committee Chairman warned against the move.

"I've observed very intense efforts on the part of Sen. Baucus to work on a compromise and I think that he's sincerely trying to get Democrats on board," Grassley said. "I think that anything that would go for complete repeal, even though I support complete repeal, might blow the whole thing up."

So, maybe in September?