House Democrats To Ditch Permanent Estate Tax Bill For 1-Year Fix

Nasdaq:  “House Democrats are retreating from a plan to move permanent estate tax legislation by the end of the year, spooked by high unemployment and budget deficits.  Members of the House Ways and Means Committee said that instead they hope to move legislation that extends current estate tax levels for one year. They could then revisit a permanent fix to the estate tax in 2010, when other tax cuts enacted under the administration of former President George W. Bush are slated to expire.”