December 8th, 2010
12:25 AM ET
12 years ago

House Democrats vent on tax plan, focus criticism on estate tax

Washington (CNN) - House Democrats vented their frustrations with President Barack Obama's tax proposal at a closed-door meeting Tuesday night, with rank-and-file members slamming the White House for leaving House Democrats out of final negotiations, and agreeing too quickly to a GOP proposal on the estate tax.

According to several Democratic members and aides, much of the discussion centered on the addition of the estate tax exemption to the package extending all the Bush-era tax cuts for two years.

Democrats are fuming that the administration agreed to exempt inheritances up to $5 million and to set the tax rate at 35%. The estate tax is scheduled to be reinstated at a higher rate of 55% next year, with the exemption up to $1 million. A bill passed the House a year ago that set the threshold for the exemption at $3.5 million and the tax rate at 45%.


Filed under: Tax deal
soundoff (5 Responses)
  1. Blue Dogs bites Democrats!

    The Senate Democrats had their chance to pass only the middle class tax cuts and it failed. What do you expect Pres. Obama to do? He has to move on. You spinless Democrats were scared to take the vote before the midterms and now can't deal with the facts that Pres. Obama has do it live!

    December 8, 2010 12:54 am at 12:54 am |
  2. Craig

    I dont understand the Dems or anyone's position who is in favor of keeping the estate tax. It is the most immoral tax on the planet and is one of the biggest destroyers of family farms and businesse in America.. Why should the government get 55% of what a person owns just because that person dies? Government does not and should not have a right or claim to ownership of a persons assets when that person dies, Its immoral period.

    December 8, 2010 04:36 am at 4:36 am |
  3. jules sand-perkins

    Now that President Obama is accepting some reality, the crazy/liberal liberal/crazy House Dems who won't stop their game of Robin Hood need to shut up and eat some oatmeal and spinach.
    There is no damned reason to destroy an estate that represents a substantial contribution to society by a GOOD family to give that estate to a family ESTABLISHED only to collect welfare checks for babies that will only watch Oprah and whine that they are the victims of social injustice.
    Isn't America fed up with this SOCIAL ADVOCACY AGAINST ACHIEVEMENT yet?
    HERE–TURN ON SOME SOCIAL COMMENTARY SHOWS, OR BALL GAMES! Oprah's right over there–or try to read some more Marx...just get the France out of Washington and our money!

    December 8, 2010 05:10 am at 5:10 am |
  4. scott

    It is good that the president and Republicans are working together. Now if we can only get the Demo-Craps to work with the Republicans and Pres. It seems they are more interested in crying and whining about things then fixing them. IF they are not part of the solution, then they are part of the problem. "Want some Cheese to go with that Whine, cry baby Demo-craps or perhaps a pacifier.

    December 8, 2010 06:47 am at 6:47 am |
  5. john, PA

    There should be NO TAX OVER 20%, Democrats better learn; we the American people are going to vent again in 2012 when we vote you and Obama out of office!

    This midterm election was a mandate to stop Obama and the Democrats in charge.
    You better learn to agree on a lot more of what the American people want:
    Cut taxes!
    Repeal Obama care!
    End ear marks!
    Close the border!

    Senate Democrats, when the vote to override Obama’s veto come up,

    December 8, 2010 07:39 am at 7:39 am |