Senate GOP leader delays estate tax vote, not enough votes [View All]

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Despite a pledge to cut estate taxes by Independence Day, the Senate's Republican leader on Tuesday postponed action on a bill to reduce taxes for heirs.

Senate Majority Leader Bill Frist, R-Tenn., said he did not yet have enough votes to pass a bill, already approved by the House, that would eliminate taxes on the first $5 million of an individual's estate and cut taxes for others.

Most Republicans support the tax reduction, but they need support from a few more Democrats.

"The vast majority of my Democratic colleagues have so far refused to address this issue," Frist said in a statement. "It's my hope that their constituents will use the upcoming recess to explain the importance of supporting a reasonable and permanent solution to this unfair tax."

http://news.yahoo.com/s/ap/20060627/ap_on_go_co/estate_tax_1