On his bus tour in Illinois last week, Obama responded to a question about the future of the estate tax from a local farmer. The President stated that a compromise between the current $5 million exemption ($10 million per married couple) and the $1 million exemption that will return in 2013 had been discussed. The compromise would be a $7 million exemption per family, which I take to mean a $3.5 million exemption per person with spousal portability. No mention was made of the estate tax rate.
Personally, I don't expect widespread Republican support for such a compromise, particularly given anti-estate tax Senator Kyl's membership in the congressional super committee.