Reid will not bring NY death tax to Senate floor

interns Contributor
Font Size:

The federal death tax may be coming for more New Yorkers, a well-placed Capitol Hill source tells The Post.

The tax will jump to 55 percent next year on all estates valued at $1 million and up — unless lawmakers can reach a compromise to raise the threshold amount or cut the rate, or both.

But Senate Majority Leader Harry Reid is telling his Republican colleagues that he cannot support such a compromise — like the one hammered out in the House — because 40 liberal Democrats are threatening to block the compromise measure if Reid brings it to the Senate floor for a vote.