Hillay Clinton Calls for Estate Tax Increase

As part of her campaign, Democratic candidate for president Hillary Clinton has called for increasing the estate tax rate and the number of estates the tax would apply to. Specifically, her proposal calls for reducing the individual estate and gift tax exemption from its current level of $5.45 million to $3.5 million, and raising the estate tax rate from 40% to 45%.

President Obama has supported similar tax increases, but a Republican Congress has not enacted them.

Some estate planning techniques that critics term loopholes would remain under her plan, including some she and Bill Clinton have used themselves.