NEWSMAX: …In a meeting of Senate Republicans Thursday, they agreed to support a deal that would raise taxes for the wealthy and continue the 35 percent tax on estates worth more than $5 million, a Republican senator who participated told The Hill.
It’s unclear how that estate tax proposal will fly with Democrats. The party’s leadership has called for increasing the rate to 45 percent and cutting the exemption to $3.5 million. Liberals declined to comment Thursday on whether the estate tax issue would be a deal breaker for them.
Moderate Democratic senators who face strong re-election challenges in rural states may support the Republican stance. Sens. Mark Pryor, Ark., and Mary Landrieu, La., already have expressed opposition to their leadership on the issue. And Sens. Max Baucus, Mont., and Kay Hagan, N.C., may join them, according to The Hill… (more)
EDITOR: The other big issue apart from income taxes is whether the Capital Gains tax will be allowed to revert from 15% to the prior 22% level.
