SENATE ESTATE TAX ACTION DELAYED

Prior announcements to the contrary notwithstanding, the Senate will NOT be taking any action on the House's current bill for estate tax reduction until after the Fourth of July Recess. Here is the announcement [Warning - Republican partisan language is included in the announcement!]:

FRIST ANNOUNCEMENT REGARDINGTIMING OF DEATH TAX VOTE WASHINGTON, D.C. — U.S. Senate Majority Leader Bill Frist, M.D., (R–Tenn.) today announced that the Senate will not vote on a permanent reduction of the death tax before the Fourth of July recess: “The House of Representatives made tremendous progress last week toward achieving a permanent solution to the death tax. Now it’s up to the Senate to decide whether it can improve upon the House bill or whether this is the bill that should be sent to the President for his signature. Everyone should be clear: The Senate will vote on a permanent reduction to this tax — a tax that destroys small businesses and family farms. The vast majority of my Democratic colleagues have so far refused to address this issue; it’s my hope that their constituents will use the upcoming recess to explain the importance of supporting a reasonable and permanent solution to this unfair tax.”