STRANGE THAT I SAW NO MENTION WHATSOEVER OF THIS WHEN IT WAS ANNOUNCED: SENATE DEMOCRATS HAVE PROPOSED AN ESTATE TAX INCREASE
I didn’t learn about it until this morning when I read the estate planning update that I receive weekly from Thomson Reuters/RIA. According to that update, Senator Schumer introduced on March 7 “a $1 trillion infrastructure proposal, to be financed by tax increases, including, among other things, elimination of the increased estate tax exemption under the Tax Cuts and Jobs Act of 2017."
The update from Thomson Reuters/RIA links to a subscription only service, but I did find a story about it that elaborates on the proposed tax increases, which would apparently reverse many of the cuts that were just enacted by the Tax Cuts and Jobs Act.
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