Political Quotes

“I am afraid, though, that the bill without the Pomeroy substitute is going to offer no help whatsoever for a decade to people who may find themselves in this same position. One of the principal advantages of the substitute is that not only does it provide immediate help starting in 2004, exempting those estates $3 million, $6 million on a couple, and by the way, those gross estates would not have to file forms. They do not even have to file an information form if their gross value is below $3 million. So I think we would provide immediate help to a significant number, to the overwhelming majority of people who would find themselves in the same position that my colleague's family found itself in. But there is a second reason that I think family farms, which go through a similar situation, would benefit much more from the substitute than the underlying bill, and this is predictability. Predictability is very important in estate planning.”