The Dow Jones Newswire here is quoting Rep. Rangel, Chair of the House Ways and Means Committee, as saying that he does not favor retroactive estate tax legislation. The same article quotes his Senate counterpart, Sen. Baucus, Chairman of the Senate Finance Committee, saying he wants retroactivity.
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January 19, 2010
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The taxes to be made retroactive are all taxes that existed recently, not new ones. There is no doubt they can be retroactively enacted. The question is, will congress greedily do nothing and let the 2001 rates and credit amounts come back in. That would in effect enact a tax hike without a vote. Hmmmm....
Posted by: Adam Clark | January 19, 2010 at 09:11 PM