Thursday, June 01, 2006


Finally, some movement

Am I irrelevant already? I realize next to no one reads this, but already I see the issue is gaining some steam at Daily Kos. Here's ElaineN, writing in a diary:

According to my daily tax service (BNA Daily Tax Report, by subscription, sorry), Senator Baucus is floating a compromise that "threatens to complicate the already complex process by which the Senate will take up estate tax repeal next week and settle on a relief deal that can win 60 votes."

BNA reports that the Baucus proposal includes "a progressive tiered approach that would impose a higher estate tax rate on larger estates, with the top rate at 35 percent" and an exemption of $3.5 million per person.

This is competing with a Kyl proposal to raise the exemption to $5.0 million with a 15% rate, the same as the capital gains rate. Kyl thinks he's close to 60, but he doesn't have it yet, and the Baucus proposal will probably pull back some Dems that wanted cover.

I don't know quite what this means. Baucus is too conservative for me, but if his deal can manage to avert the total crisis of Kyl's bill, that's got to be a good start. I'm on pins and needles. I hope adigal is right:

It appears as though most Democrats are poised to block this, using the filibuster if they must. But a "moderate" Republican is trying to peel off 6 or so Democrats to provide a filibuster-proof number so it can pass. His "compromise" would only add 500 to 600 billion dollars to the debt from 2011 to 2021. This, while we have an aging population, and real wages are going down."

Time will tell. I see the Coalition 4 Americas Priorities also has a diary, with links to the same pages I wrote about earlier. Go! Click! Call! Citizens of the netroots, we're our only hope.

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