Senate Republicans plan to restart the long-stalled debate over permanent repeal of the estate tax June 6.
Industry officials, congressional staffers and lobbyists say Republicans lack the votes for full repeal. Sens. John Kyl, R-Ariz., and Max Baucus, D-Mont., the most senior Democrat on the Senate Finance Committee, are negotiating a compromise.
Staffers in the office of Senate Majority Leader William Frist, R-Tenn., confirmed that he will file a motion to close off debate on the estate tax repeal bill June 6. Frist has not commented on whether he will allow a vote on the proposed Kyl-Baucus compromise.
David Stertzer, chief executive of the Association for Advanced Life Underwriting, Falls Church, Va., says the trade group is “heavily engaged in communicating with senators and working with a variety groups in disseminating our pro-reform message in advance” of the vote.
Meanwhile, Stertzer says, “there are active discussions among several senators to explore a possible compromise.”
The issue “comes down to a volatile mixture of policy, fiscal concerns and politics,” and “it’s hard to handicap where this comes out,” Stertzer says.