Senate Is Discussing Plan That Would Keep ‘Death Tax,’ Hatch Says
- Group that wants repeal cautions about poking ‘hornet nest’
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Senate tax writers are discussing a plan to keep the estate tax, but double the thresholds at which it applies, Senator Orrin Hatch said.
“We have been thinking about that,” said Hatch, the chairman of the tax-writing Senate Finance Committee. The estate tax -- often labeled the “death tax” by its conservative opponents -- applies a 40 percent tax rate to estates worth more than $5.49 million for single individuals, or $10.98 million for couples.