Bush Administration Position
Address by the Chairman of the Council of Economic Advisors
My remarks today will focus on the estate tax, with particular attention to its incidence and its revenue effects. The estate tax is a timely issue. As you know, President Bush won repeal of the estate tax as part of the 2001 tax cut. Repeal does not take full effect until 2010 and is then scheduled to sunset at the end of that year, along with the rest of the 2001 tax cut. The President has consistently advocated making repeal permanent. This proposal won majority support in both Houses of Congress last year, but failed to win the necessary 60…
