Estate Tax Planning and Charitable Giving

Losses to charities and the people they serve would likely exceed the estimated $10 billion a year if the estate tax is repealed, because of the impacts on charitable giving behavior from total elimination of the tax.

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Estate Tax Factsheet

Here's some information on the estate tax...

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Estate Tax Update For June 2003

On June 18th, the House of Representatives passed H.R. 8, the “Death Tax Repeal Permanency Act of 2003,” which would make permanent the repeal of the estate tax, currently scheduled to take place in 2010 (thus the proposed law would take effect only in 2011 and beyond). The bill passed the House by a vote of 264-163, primarily with Republican backing, and with 41 Democrats and four Republicans breaking rank with their colleagues. (Vote Results)

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The House Takes Up Permanent Repeal of the Estate Tax

After hijacking the child tax credit with add-ons that inflated the cost to $82 billion, House GOP leaders continue this month in their headlong rush to drain resources from government by cutting taxes for corporations and the wealthy. The campaign has just moved from the outrageous to the egregious.

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Garbage In, Garbage Out: Two Bad Tax Cut Bills Won't Make One Good One

Conference negotiations to reconcile the tax cuts bills passed by the House and Senate are expected to begin tomorrow, and Congress hopes to pass a tax cut bill by the Memorial Day recess, although this may prove impossible.

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Poll Shows Administration?s Priorities Are Out-of-Touch with Country?s Needs

A recent poll conducted by National Public Radio (NPR), the Kaiser Family Foundation, and the Kennedy School of Government reveals much about how tax payers view current proposals to reduce taxes when compared with spending on education, Social Security, health care, and even reducing the deficit. The survey, conducted between February 5 and March 17, 2003, also revealed that many people feel they don’t know enough about various tax cut proposals to offer an opinion on them. This result is disconcerting, surely, but is also very interesting given the efforts of Treasury Secretary John Snow and other White House officials in recent months to educate Americans on the administration’s tax cut agenda through road shows across the country.

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Estate Tax Repeal Supporters Losing Ground

In a move viewed by many as truly outrageous, Sen. Jon Kyl (R-AZ) introduced an amendment to the Senate Budget Committee’s budget resolution on March 19 – the day the country committed itself to billions of dollars for the war and its aftermath in Iraq – to accelerate the repeal of the estate tax by one year.

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House Passes Budget Resolution of Huge Tax Cuts, Program Cuts; Senate Votes Weds.

The House passed its FY 2004 budget resolution last week, officially kicking off the Congressional budget debates for the coming fiscal year. The Senate voted to preserve all but $100 billion of the President’s tax cut, but won’t complete work on the budget resolution until Wednesday, March 26. Though the budget resolutions of each chamber reflect much of the President’s own budget proposals, and especially his $726 billion tax cut, neither resolution passed without a great deal of effort among Republican leaders to ensure that Congressional members voted together.

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CBO Report Analyzes Effects of President?s Budget Proposals

On March 7, the Congressional Budget Office (CBO) released its annual report analyzing the effects on revenue and spending of the President’s budget proposals. The report was yet another blow to the President’s proposals for additional tax cuts.

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JCT Report Calculates Total Costs of President?s Latest Tax Cut Proposals

On March 4, the Congressional Joint Committee on Taxation (JCT) released its estimates of the costs of the tax provisions contained in the President’s FY 2004 budget proposal. Since the President’s Budget proposal is just that – a proposal – these analyses are important for providing a neutral examination of these policy changes that can permanently affect the federal government’s resources.

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