If you didn't read the links to the bill, or listen to the debate this is part what you could have missed. Won't affect the people on this blog but it will affect a lot of the people that contributed 1.4 Billion to the campaign fund that the prez controls for next years elections, that he collected since the day he was elected in Nov.
- According to the Center on Budget and Policy Priorities, extending (without increasing) an estate tax exemption will cost $200 billion over 10 years. Previous estimates of eliminating the estate tax have suggested a cost of $370 billion over 10 years, as reported by Kiplinger.
- By comparison, the Bipartisan Policy Center estimated that extending the higher AMT thresholds would cost $1.4 trillion over 10 years.
At the time, the Tax Policy Center estimated that the number of taxpayers who would have paid AMT the year TCJA was enacted fell by almost 5 million people, while the number of filed estate tax returns diminished by about 3,500.It hasn’t ended there. The OBBBA has made some individual AMT thresholds permanent. Plus, the increased estate exemptions were raised even higher under the legislation