June 5, 2006 02:12 PM | | Bookmark and Share

Republican Senate leaders are pushing to enact permanent repeal of the federal estate tax, a move that would cost nearly $1 trillion over the first full decade. Meanwhile, other Senators are seeking a “compromise” that would cost nearly as much as full repeal. But new data from the Internal Revenue Service, describing estate tax payments in each state for 2004, show that more than ever, the estate tax is virtually irrelevant for most Americans—raising the question of why Congress is so intent on repealing a tax that affects so few estates.

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