The repeal of the federal estate tax and the enactment of substantial pension reform legislation was scheduled to be voted on by the Senate on October 7, 2005. However, Hurricane Katrina blew in a couple of days before the vote. Leaders of the Senate Finance Committee and the Senate Health Education Labor and Pension Committee determined that this was simply not the time to act on this legislation. Efforts were turned to help overcome the devastation caused by Katrina.
The repeal of the estate tax has been the subject of significant debate. We will keep you up to date on the progress.
— Mike Beausang