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On July 19, 2010, FEI’s Committee on Private Company Policy joined 50 other organizations in a letter supporting a bipartisan effort to provide permanent estate tax relief. The letter urged Congressional leaders to pass the bipartisan Lincoln-Kyl proposal to the Small Business Lending bill (H.R. 5297) to provide additional permanent relief from the estate tax which would phase in a top tax rate of 35% and an exemption of $5 million. The tax is currently expired, but unless Congress acts this year, it will automatically be reinstated at a rate of 55% in 2011 with a $1 million exemption per person.
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