Repealing the estate tax is a controversial subject both inside and outside of Washington D.C. Recently, the U.S. House of Representatives did vote to repeal the tax, but the matter must still meet Senate and Presidential approval.
With the U.S. House of Representatives recently voting to repeal the estate tax, the issue now will go before the Senate for approval. If it passes there, then President Obama will need to decide whether to veto the legislation or not.
Many people wonder why the estate tax would be repealed and why there is so much controversy surrounding the matter.
Forbes recently published a list of reasons why the estate tax should be repealed in an article aptly titled “Top Ten Reasons The U.S. House Will Kill the Death Tax.”
The Forbes list includes:
Keep a close eye on these developments and stay in touch with your estate planning attorney whichever direction the political winds may blow.
Reference: Forbes (April 14, 2015) “Top Ten Reasons The U.S. House Will Kill the Death Tax.”
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