CNN: Obama Likes $3.5 Million For Estate Tax Exemption

The last section in this story by CNN today:

Obama favors maintaining the estate tax, which is scheduled to be repealed in 2010 for one year. But he would limit its reach.Obama would freeze the estate tax exemption amount at $3.5 million – up from its current $2 million level and the $1 million level it’s set to revert to in 2011. He would also keep the current top rate of 45%, which is below the 55% it is set to revert to in 2011.

Nothing revolutionary – we’ve been hearing $3.5 Million for a while now but interesting in the face of some his other tax policy ideas.

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