Senate Votes to Do Away with Death Tax

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 (R-Maine) broke rank and voted against the amendment, while Sen. Joe Manchin (D-W.Va.) voted for it.
The amendment, offered by Sen. John Thune (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.…