Monthly Archives: November 2011

House Bill Introduced to Reduce Estate Tax Exemption to $1,000,000

Congressman Jim McDermott (D-WA) just  introduced HR 3467 the “Sensible Estate Tax Act of 2011,”  which would reduce the estate tax exemption to $1,000,000 for taxpayers who die after this year.  The $1M exemption would be indexed for inflation, with a 55% top tax rate. This bill appeared “dead on arrival.”  But for details on this bill,  see http://www.gpo.gov/fdsys/pkg/BILLS-112hr3467ih/content-detail.html