Logo
BusinessBusiness

New York’s US senators will not support a stand-alone bill on the estate tax, making it harder to reach a compromise before higher rates automatically take effect at year’s end.

This could affect more than 10,000 New Yorkers, who would need to pay federal estate taxes annually if the threshold is reduced to the $1 million level next year as opposed to the $3.5 million level the President supports.

Senator Charles Schumer told The Post, “While it remains to be seen where the exact numbers will end up, the Senate needs to find a middle ground on the estate tax and combine it with a significant middle-class tax cut.”

Senator Kirsten Gillibrand’s spokesman said, “She will evaluate new proposals that include meaningful middle-class tax relief and ensure fairness in the estate tax.”

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy