Senate Kills Estate Tax Repeal
As Think Progress put it: "A sad day for Paris Hilton."As Think Progress put it: “A sad day for Paris Hilton.”
Wait, before you go…AP:
WASHINGTON – The Senate rejected Republican efforts Thursday to repeal the estate tax, but GOP leaders promised to try again before this election year is over.
“Wiping this vicious tax from the books is a matter of principle,” said Majority Leader Bill Frist, R-Tenn.
Senators voted 57-41 to advance the bill, but that was three votes short of the 60 needed to overcome objections from a majority of Democrats and a pair of Republicans.
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The will signed two days before his suicide puts $577 million in assets into a trust, a roadblock to sex-abuse accusers to recover damages.
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Leona Helmsley, the recently deceased billionaire who was famous for being mean and evading taxes, left two of her grandchildren nothing but gave her dog Trouble a $12-million trust fund so it can continue to enjoy the lifestyle it has become accustomed to.
Normally, this would be cause for unbridled celebration. However, Republicans had cowardly and self-servingly tacked an estate tax reduction onto a bill designed to raise the minimum wage. So good legislation had to die in order for a terrible bill never to live.
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