While nobody seriously expects the Republican-controlled House of Representatives to eliminate the federal inheritance tax in the next 18 months, all bets are off beyond 2016.
Repealing the estate tax has been a political hand grenade for so long that when the House finally pulled the pin and voted a few weeks ago, everyone yawned.
Even if the bill makes it through the Senate, it’s dead in the water, vanishingly unlikely to survive an Obama veto.But now that the topic is in play, more votes will follow.
The next president will decide whether to sign them into law or kick them back down the chain.
And since every Republican in the running looks eager to let the tax die, it’s clear: the future of the estate planning conversation hinges on Hillary Clinton’s political ambition.