Critics say repeal is unnecessary and too costly.
But avoiding the tax, which tops out at 55 percent, requires costly insurance and estate planning, and it causes particular problems for many farmers and small businesses who are often forced to sell assets. Still, House Majority Leader Dick Armey, R-Texas, predicted about 60 Democrats would join most Republicans in backing the repeal bill, which is similar to a measure vetoed last year by former President Clinton. The estate tax repeal would begin cutting top rates in 2002 and repeal it entirely in 2011, with most of the cost coming in the bill's final two years. We do not believe all estates, particularly the largest, should escape taxation. Democrats also argue that the bill's changes in capital gains taxes after repeal could result in a hidden tax increase when heirs sell farmland or other assets.