House Draft Pays for Tax Extenders With Estate Tax Change

A preliminary draft of provisions for House legislation extending temporary tax breaks would renew the expired breaks through 2019 while tweaking the estate tax exemption, according to a document obtained by Bloomberg Tax.

• The draft document would let the estate tax exemption that went into effect after passage of the 2017 Republican tax law expire at the end of 2023 instead of at the end of 2025. The 2017 law expanded the exemption to $11.18 million per person, from $5.49 million.
• The estate tax change would bring the government $25 billion, which would be enough to pay for the temporary ...