Senate Rejects Estate Tax Rollbacks

The Senate has just completed roll-call votes on the following estate tax amendments:
  • Sen. Ben Nelson (D-NE), to allow the Finance Committee to craft deficit-neutral legislation to reform the estate tax by establishing an individual exemption of $5 million and a tax rate of 35 percent for the portion of estates above this amount. Rejected, 25-74.
  • Sen. Jon Kyl (R-AZ), to allow the Finance Committee to craft estate tax reform legislation that establishes an individual exemption of $5 million, indexed for inflation and a tax rate of no more than 35 percent and to permanently extend the deduction for teachers? out of pocket expenses; reduces revenue totals and increases the deficit by more than $30 billion in 2011 and 2012. Rejected, 48-51.
  • Sen. Jim DeMint (R-SC), to eliminate the estate tax. Rejected, 44-55.
Thanks to everyone who helped defeat these destructive amendments! Your efforts really paid off!
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