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Home | News | Senate repeals estate tax

Senate repeals estate tax

On July 14, the Senate voted in favor of the Death Tax Elimination Act by a vote of 59-39. The House of Representatives passed the act in June.

With presidential approval, the bill would phase out the death (estate, gift and generation-skipping) tax over a 10-year period. However, President Clinton has vowed to veto the bill. To override the veto, two-thirds of the Senate must to vote in favor of the bill.

Date: 7/21/00


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