December 20, 2012
Authored by: Matthew C. Jessee and Stephanie Moll
The House of Representatives will likely pass legislation today to extend all rates, including capital gain and dividends, for income under $1 million. The bill also includes a permanent extension of the 35% estate tax rate with an exemption of $5 million.
It is unlikely the bill would pass in the Senate, and the President has indicated that he would veto the bill.