From today's Tax Notes ($), Jon Kyl has a "compromise" estate tax proposal that may garner 60 votes in the Senate. Details not released, but it's probably similar to the $5 million exemption in 10 years that was defeated in the House last fall. Reportedly Kyl will try to attach the measure to a bill providing new tax breaks for small businesses.
My money is on no estate tax action for the rest of this year. I hope that I am wrong.
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