House Votes to Cut Estate Taxes
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WASHINGTON (AP) – The House voted Thursday to cut taxes on inherited estates and relieve thousands of heirs from paying the tax collector.
The vote, just a few months before an election with control of Congress at stake, saw majority Republicans temporarily setting aside their ambition to abolish the tax.
Instead, the House voted 269-156 to exempt many more estates from taxation and blunt the impact on still others. The compromise measure now goes to the Senate.
