April 13, 2001
House Votes to End Federal Estate Tax
The House of Representatives approved legislation last week that would phase out the federal tax on large estates by 2011. The legislation, a major piece of President Bush's $1.6-trillion tax-cut package, worries some college officials, who say that without the tax, wealthy donors will have less incentive to give money to colleges.
The legislation, which estimates say would cost $185.5-billion over the next decade, passed the House on a 274-to-154 vote.