© Greg Nash
The Senate approved a budget amendment Thursday that supports a repeal of the estate tax.
Senators voted 54-46 on the amendment. Sen. Susan Collins
Susan Margaret CollinsSusan Collins: 'We must all respect the outcome of elections' Trump surrogate on election legal challenges: 'Hopefully Amy Coney Barrett will come through' Biden win would leave GOP poised for 2024 comeback MORE (R-Maine) broke rank and voted against the amendment, while Sen. Joe Manchin
Joseph (Joe) ManchinSunday shows preview: Joe Biden wins the 2020 election Bitter fight over Barrett fuels calls to nix filibuster, expand court Democratic Senate emerges as possible hurdle for progressives MORE (D-W.Va.) voted for it.
The amendment, offered by Sen. John Thune
John Randolph ThuneBiden holds Minnesota The Hill's Morning Report - Sponsored by Facebook - 24 hours to go Senate battle threatens to spill into overtime MORE (R-S.D.), aims to repeal the estate tax, sometimes referred to as the "death tax." Under the tax, an estate, or assets, have to be worth more than $5.43 million before they are taxed.
John Randolph ThuneBiden holds Minnesota The Hill's Morning Report - Sponsored by Facebook - 24 hours to go Senate battle threatens to spill into overtime MORE (R-S.D.), aims to repeal the estate tax, sometimes referred to as the "death tax." Under the tax, an estate, or assets, have to be worth more than $5.43 million before they are taxed. ADVERTISEMENT
Thune, ahead of the vote, said "a death in the family should not be a taxable event. ... It also hits farmers particularly hard."
Sen. Bernie Sanders
Bernie SandersSanders celebrates Biden-Harris victory: 'Thank God democracy won out' On The Trail: Biden's bet pays off How Biden got across the finish line MORE (I-Vt.) fired back that "this amendment is not about family farms or small business. This amendment exclusively the wealthiest 0.3 percent of the families in this country."
Bernie SandersSanders celebrates Biden-Harris victory: 'Thank God democracy won out' On The Trail: Biden's bet pays off How Biden got across the finish line MORE (I-Vt.) fired back that "this amendment is not about family farms or small business. This amendment exclusively the wealthiest 0.3 percent of the families in this country." Like many votes taken during the "vote-a-rama," the approval isn't binding, but it sets the stage for a decision later in the appropriations process.
