An estate tax proposal to set the personal exemption at $3.5 million for 2 years and the maximum rate at 45% is likely to come to the House floor today.
The House Rules Committee agreed Wednesday on House Resolution 1766, a measure that sets the rules for consideration of H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, on the House floor. Debate could occur this afternoon, and a vote could occur this evening.
But, since we posted the first version of this story, House Democrats who oppose the version of the bill passed by the Senate apparently have been battling with Senate version supporters off the House floor.
Some House Democrats have mentioned the turmoil while speaking in support of other bills, such as patent system improvement bills, that are being handled on through a system that suspends the usual procedural rules for uncontroversial measures.
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Members of the Senate voted 81-19 to pass H.R. 4853, which would preserve extended unemployment insurance benefits for 13 months and extend many of the tax breaks in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) for 2 years.