- The Washington Times - Wednesday, June 18, 2014

Is the “death tax” on the verge of dying?

Forbes reported Wednesday that there is now enough support in the GOP-controlled House to pass a bill that would kill the controversial levy on personal fortunes.

This follows a report from Bloomberg that Bill and Hillary Rodham Clinton have shielded themselves from paying the estate tax, which they have long supported.

Rep. Kevin Brady, Texas Republican, introduced the “Death Tax Repeal of 2013” proposal last year, and it needs 218 votes to pass.

This week four more lawmakers, including Reps. Shelly Moore Capito, who is running for the Senate in West Virginia, and Darrel E. Issa of California, signed on as co-sponsors, bringing the total number of supporters in the House to 221.

The Bloomberg report said that the Clintons, like other multimillionaires, have worked around paying the tax, which can be as high as 40 percent on taxable estates.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide