In an effort to re-emphasize their dogged commitment to tax breaks for the very wealthy, House Republicans announced last week that they would bring up the issue of permanent estate tax repeal for a vote shortly after they return from their Memorial Day recess - on June 5 or 6.

In an effort to re-emphasize their dogged commitment to tax breaks for the very wealthy, House Republicans announced last week that they would bring up the issue of permanent estate tax repeal for a vote shortly after they return from their Memorial Day recess - on June 5 or 6.

H.R. 2143, introduced by Rep. Dave Weldon (R-FL) last June, calls for removing the "sunset," or expiration, provision only on estate tax repeal, which was included in last year's $1.35 trillion tax cut. Under last year's tax cut, the estate tax will be repealed for one year in 2010, but will be re-instated in 2011. (In April, the House passed a bill removing the sunset for the entire tax cut bill, which included the estate tax.)

The House action intended to put additional pressure on the Senate to permanently repeal the estate tax. Senate Majority Leader Tom Daschle (D-SD) has agreed to allow Sens. Phil Gramm (R-TX) and Jon Kyl (R-AZ) to bring a repeal proposal to a vote by June 28.

More than 98% of all estates in the US are exempted from paying the estate tax, which is applied when individuals leave behind estates worth at least $1 million ($2 million for couples) at the time of their death. There is no tax on the first $1 million per individual, and amounts in excess of $1 million are taxed at various rates, starting at 37 percent. As a result of last summer's tax legislation, the amount that is exempted from taxation rises to $3.5 million ($7 million for couples) and the highest taxable rate drops from 55 percent to 45 percent by 2009.

Americans for a Fair Estate Tax (AFET), a broad-based non-partisan coalition of nonprofit groups, including civic, labor, social justice, faith-based, and environmental organizations, as well as organizations providing human services, is working to prevent passage of permanent repeal in the Senate. AFET advocates that instead of repealing the tax on multi-million-dollar estates, Congress should reform the estate tax to ensure that family farms and small businesses are not unfairly taxed while keeping 98 percent of taxpayers exempt and safeguarding Medicare, Social Security, education, charities and other key national priorities that would be threatened by a complete repeal. More information on this issue can be found online at www.ombwatch.org/estatetax, which will soon be at www.fairestatetax.org. The site has general fact sheets, state fact sheets, analyses, a recent press release, and a cover letter from selected AFET members.

AFET's website also contains a direct link for contacting your Members of Congress and for writing letters to the editor of your local paper. To get involved with AFET, email estatetax@ombwatch.org.