Number: RL34374
Title: Estate Tax Legislation in the 110th Congress
Authors: Nonna Noto, Government and Finance Division 
Abstract: There are several reasons why Congress might address the estate tax sooner rather than later. The law governing the estate tax over the next four years is highly erratic. The applicable exclusion amount (popularly known as the exemption) under the estate tax is $2 million for people who die in 2008. The exclusion is scheduled to rise to $3.5 million in 2009. The estate tax is repealed for people who die in 2010 only. Then, because the current law governing the estate tax is scheduled to sunset on December 31, 2010, the estate tax is set to be reinstated in 2011, with an exclusion of $1 million per person for 2011 and beyond.
Pages: 33
Date: July 2, 2008