House Democrats couldn’t muster enough support to proceed to debate on the tax package, largely because of infighting over whether to amend the estate tax provision.
Some Democrats oppose the GOP-Obama compromise passed by the Senate yesterday calling for the first $5 million of an estate tax to be inherited tax-free, and the rest subject to a 35 percent rate. Democrats want to impose a higher estate tax, claiming the package is too generous to the wealthy.
The bill was pulled from the floor and delayed until further notice.
“It’s not surprising in the sense that House Democrats are very upset and don’t like the tax package,” said a senior Democratic aide. “It wasn’t a shock.”
Democrats expect the bill to proceed to the House floor today, but there is no estimate on when that will occur.
The Senate overwhelmingly passed the package Wednesday, with broad bipartisan support. President Obama is urging the House to pass it without changes, so he can sign it into law before a sweeping series of tax cuts expire at the end of December.
Republicans plan to vote against the tax package.
