Estate Taxes are growing as a campaign issue and candidates are starting to listen to the voters. Repealing the estate tax is one option that is being supported by some lawmakers. A possible compromise has been suggested by Democratic Senator Cantwell of Washington. The compromise would allow taxpayers to prepay estate taxes while they are still living. In return, the taxpayer would receive a lower rate and freeze asset values in a trust. The move would spark estate planning activity and increase federal revenues in the near term. The bill is likely to receive some level of Republican support in the Senate.
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James Sutliff