"Those people who believe repeal of the estate tax will happen are probably more delirious than Ralph Nader thinking he could be president of the United States." This is a quote from Mark Bloomfield, president of the American Council for Capital Formation, a Washington-based organization, who has lobbied for estate tax repeal. The latest news on the scheduled 2010 estate tax repeal was the subject of an article written by Jonathan Weisman entitled "Estate Tax Faces Its Own Life-and-Death Struggle" published on September 19, 2009 in the Wall Street Journal.

Summary:  With stimulus packages and debates over national health care consuming much of the current administration’s time, the pending 2010 estate tax repeal has dropped to second tier. Regardless, the President and congressional Democrats are united behind an effort to block the scheduled repeal. "With health care and routine spending bills jamming the Senate calender, the estate tax fight - first on the Senate floor, then with the House - could make passage of a bill virtually impossible this year. Lawmakers will likely fall back on a one-year extension of the current rate and exemption and leave the fight to next year."

Click the link below for the complete September 19, 2009 Wall Street Journal Article. http://online.wsj.com/article/SB125331968815724585.html