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U.S. House moves to permanently repeal estate tax, reform class action suits

November 23, 2010
The House of Representatives voted 264-163, largely along party lines, on June 18 to make permanent the repeal of the federal estate tax. A 2001 law that repealed the estate tax called for the tax to expire Jan. 1, 2010, then be reinstated in 2011. That meant that if a wealthy parent died in 2010, her children could inherit an unlimited amount, tax-free, but if she died in 2011, they'd be taxed. The matter now moves to the Senate, where it needs 60 supporters to overcome an expected Democratic-led filibuster. On June 12, the House passed the Class Action Fairness Act of 2003. Thirty-two Democrats joined 221 Republicans to pass the bill 253-170. "We are very pleased by the bipartisan support for class action reform and appreciate the support of the 253 lawmakers who voted in favor of this important legislation," said Tim Smith, chairman of the AIADA.. Supporters of class action reform call it the first step towards restoring balance to the nation's judicial system, by bringing fair and efficient methods to resolve legitimate claims. By relieving businesses of the threat of frivolous lawsuits, the AIADA contends business owners would introduce new products into the marketplace and contribute to the economy with jobs and overall business expansion. The AIADA now will focus its effort on the Senate, where a vote is expected this summer