Lincoln Statement on Estate Tax Agreement

Statement

U.S. Senator Blanche Lincoln (D-Ark.) today made the following statement on the inclusion of the Lincoln-Kyl estate tax proposal in the compromise that has been reached on tax cut extensions.

"I am pleased that the President has agreed to include the Lincoln-Kyl compromise on the estate tax in the package of tax cut extensions that will soon come to the Senate floor," Lincoln said. "I have long-fought for a solution to end questions over how we will move forward on this policy, and I am glad that we have reached some agreement. Uncertainty in the estate tax law has caused incredible difficulties for Arkansas's farmers, ranchers and small businesses, and the inclusion of the Lincoln-Kyl proposal in this package means that for the next two years, these individuals will be assured of a reasonable rate (35 percent) and exemption ($5 million) that will allow them to invest in their small businesses, farms and ranches, growing those operations and creating jobs. As we move forward in this debate on tax policy, I hope my colleagues will support our bipartisan compromise."

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