Missoulian: Tester: Congress must address expiring tax cuts, estate tax
HELENA – When Congress meets for a lame-duck session later this month, U.S. Sen. Jon Tester, D-Mont., said it must address the expiring Bush administration income tax cuts and the estate tax.
“I think they need to be done before the first of the year,” Tester said. “I think it’s imperative, whether it’s the estate tax or whether it’s the general tax extenders that came about eight years ago and are set to expire at the end of the year.”
People want a federal tax code that is predictable and dependable so they can plan, he said.
As for extending the Bush tax cuts on individual income taxes, Tester said, “I’m going to take a look at anything that’s out there.” He said he’s willing to negotiate on anything.
Tester said he favors giving everybody some type of tax break to couples on the first $250,000 of income. Thus a family with $500,000 in income would get some tax break on the first $250,000, he said, but not the other $250,000.
