Posted on August 23, 2011 by Greg Herman-Giddens

Obama Suggests that $3.5 Million Estate Tax Exemption with Spousal Portability Acceptable

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.

CNN: Obama talks estate tax at final bus tour

Tags:
Trackbacks (0) Links to blogs that reference this article Trackback URL
http://www.ncestateplanningblog.com/admin/trackback/256980
Comments (1) Read through and enter the discussion with the form at the end
Fred - September 8, 2011 1:04 PM

true: his leadership on this matter will depend on republican support in congress.

Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.