ESTATE TAX LOGROLLING….The latest attempt by Republicans to eliminate the estate tax failed in the Senate by three votes a couple of weeks ago. But because this is clearly the most important problem facing our nation, the House isn’t giving up. Today they offered up yet another new proposal, one that’s almost the same as the one that failed earlier. Almost:
The House bill is similar to a compromise that Senate Republicans circulated two weeks ago, without success. But it includes a tax cut that would save timber companies about $900 million over the next three years, a new twist that could win as many as four more Democratic votes in the Senate.
The provision would reduce the corporate capital gains tax, which is assessed on sales of timber, to about 14 percent from 35 percent. Two of the timber industry’s strongest advocates are the Democratic senators from Washington ? Patty Murray and Maria Cantwell ? who both voted with other Democrats against blocking a filibuster on the estate tax.
…. Other Democratic Senators ? Mark Pryor and Blanche Lincoln of Arkansas and Mary L. Landrieu of Louisiana ? were co-sponsors of a similar timber tax cut last year.
Lincoln already disgraced herself by voting for the estate tax repeal earlier this month, but the other three didn’t. And they better not change their minds now based on this naked bribe. If they do, the entire party will be disgraced.