This article examines the Bush Administration’s proposal, as part of its proposed fiscal year 2005 budget, to extend permanently the repeal of the federal estate tax. The article considers the budgetary impact of permanent estate tax repeal and discusses procedural impediments to use of the reconciliation process for permanent tax cuts. The article also notes the possibility of a durable compromise solution involving retention of the estate tax with lower rates and a higher exemption.
Accounting Law | Banking and Finance | Estates and Trusts | Law and Economics | Taxation-Federal Estate and Gift | Tax Law
Date of this Version
Karen C. Burke and Grayson M.P. McCouch, "Estate Tax Repeal and the Budget Process" (October 2004). University of San Diego Law and Economics Research Paper Series. Working Paper 2.