Last week the U.S. House moved forward with a program that would exempt most from paying an estate tax, but this week the Senate backed away from voting on a similar measure. Senate Majority Leader Bill Frist, R-Tenn., told wire services he would return to the issue after the July 4 recess.
According to reports, Senate leadership doesn't feel it has the votes to get the measure across. Frist, who has been known to call for votes quickly to make measures move, is taking a different and slower approach on the estate tax measure. The House measure, which would exempt $5 million in assets from estate taxes would eliminate the tax from all but the wealthiest individuals.