Latest on Federal Estate Tax.....

Bloomberg's Businessweek reports that the spending blueprint approved yesterday by the Senate Budget Committee assumes that the estate tax will be set at last year’s levels ($3.5 million exemption), with a $7 million exemption for couples, indexed for inflation, and a top rate of 45 percent. The Democrats were forced to allow the estate tax to lapse this year after they were unable to produce the 60 votes needed to extend it.