The Seattle Times: Nation & World: Compromise on estate tax in the works

The Seattle Times: Nation & World: Compromise on estate tax in the works

Compromise on estate tax in the works

By Janet Hook

Los Angeles Times

WASHINGTON — Republicans in Congress are renewing their drive to abolish the estate tax for good, but some party leaders fear their long-held goal is out of reach despite GOP gains in the 2004 congressional elections.

As a result, a senior GOP leader has opened negotiations with Democrats on a possible compromise that would apply the tax only to the largest estates. That would allow the vast majority of taxpayers to pass on wealth tax-free to heirs. But it would mark a retreat by President Bush and GOP activists for full repeal of what they like to call the "death tax