March 9, 2021 Press Release
Washington, D.C. – Speaker Nancy Pelosi joined Democratic leaders of the House and Senate for a press conference ahead of the final House passage of the American Rescue Plan on Wednesday morning. Below are the Speaker’s remarks:
Speaker Pelosi. Good afternoon, everyone.
I m so excited, I just can t hide it. The Rules Committee –
[Laughter]
The Rules Committee just finished its work, and now, we ll make preparation for bringing this important American Rescue Plan to the Floor of the House. The – it’s so exciting, as you know, because of what it does: vaccines in the arms of the American people, money in their pockets, children safely in school, workers safely back to work. It s a remarkable, historic, transformative piece of legislation, which goes a very long way to crushing the virus and solving our economic crisis.
Approximately $2,639,200
Approximately $7,271,200
As always, the potential estate, gift and GST tax savings should be weighed against the potential loss of the step-up of income tax basis for assets included in a decedent’s taxable estate (assuming that the Biden proposal to eliminate the step-up in basis is not enacted).
Popular Wealth-Transfer Techniques to Leverage Expanded Federal Gift and GST Tax Exemptions Remain Viable – At Least For Now!
Individuals who wish to reduce or eliminate future estate and GST taxes may consider maximizing their use of the increased federal gift and GST tax exemptions before the exemptions revert to pre-2018 levels on January 1, 2026 (unless reduced sooner by new legislation). Strategies that are attractive include dynasty (generation-skipping) trusts, spousal lifetime access trusts (“SLATs”), grantor retained annuity trusts (“GRATs”), intra-family loans and sales to intentionally defective grantor trusts (“IDGTs”). Each transacti
Washington, D.C. – Speaker Nancy Pelosi issued the following statement on the February jobs report: “The February jobs report shows some progress, but much more is needed to address the daily reality of joblessness and financial insecurity facing millions of Americans. State and local governments continue to be forced to slash our heroes’ jobs, particularly in education,