August 11, 2000
Senate Estate-Tax Vote Could Imperil Gifts
The Senate approved legislation last month that would phase out the federal tax levied on large estates, a move that some college officials have worried might lead to a drop in charitable giving to colleges.
President Clinton, however, has vowed to veto the measure, which the House passed in June. He argued that the bill would cost too much -- $105-billion in lost revenue over 10 years -- while disproportionately benefiting wealthy families.
The Senate
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