Estate Tax Bill Heading to Full House Floor

An estate tax bill, H.R. 4154: introduced into the House of Representatives November 19 by Rep. Earl Pomeroy (D-North Dakota), a member of the powerful House Ways and Means Committee, is expected to come to the full House floor for a vote on Thursday, December 3. The bill would extend the 2009 estate tax level to 2010 and make permanent the estate tax at a $3.5 million exemption level and 45% maximum tax rate as proposed by the Obama Administration. A Pomeroy spokesperson said the bill is expected to pass the House and will then move to the Senate.