Greenville Estate Tax Lawyer: “Nothing Doing on the Bush Tax Cuts”
October 2, 2010
There were no real Congressional debates in September on extending the Bush Tax Cuts, or what to do about the repeal and pending reinstatement of the estate and generation skipping transfer taxes. Congressional members have left D.C. until after the midterm elections in November. Democrats did not want to suffer a defeat on their proposals prior to the midterms, and the Republicans wanted to keep the issue alive as a talking point in the run up to Election Day. Unsurprisingly, playing politics has won out to responsibility in our tax laws. Can this be one of the reasons it seems a majority of the American people is fed up with politics as usual?
One way or the other, we will soon have certainty on the future of the estate and generation skipping taxes. Stay tuned……