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The Senate tax reform bill does not repeal the “death” estate tax conservatives have long opposed, apparently because of at least three Republican senators. The three are among many who have received donations from insurance companies benefiting from the tax.
The House fully repealed the “death tax,” but Senate Republicans did not include a repeal in their version of the bill. Republican Sens. John McCain, Susan Collins and Mike Rounds, who are the only three Republican senators on-record opposing repeal, could be held responsible if the estate tax is not repealed in the final bill. The two chambers are now in the process of reconciling for final passage.
Senators - Estate - Tax - Donations - Insurance
All three senators have publicly said they’re open to keeping the estate tax, and have received donations from insurance companies, which bring in tens of billions of sales dollars as a result of the policy. A senior Senate Republican aide named Collins and McCain specifically as the senators who seem to have tripped up repeal of the tax in the Senate. The source referred to them as “possible culprits,” and said their presence was definitely felt in the finance committee hearing to markup the bill, though neither are on the Senate Finance Committee.
A spokeswoman for McCain told The Daily Caller News Foundation he “was not involved in drafting or negotiating this provision.” The statement leaves open the possibility he quietly influenced senators on the markup committee, or that the committee chose to avoid a fight over the policy that could potentially lose them McCain’s vote, given his clout in the Senate and long history of opposing full repeal of the “death tax.”
Margin - Committee - Battle - Worth - Fighting
“Because the margin was so tight, [the committee] thought it wasn’t a battle worth fighting,” the Senate source told TheDCNF.
The estate tax remains one of the starkest points of difference between the House...
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