The Fine Print: Senate Tax Bill Isn't All That It Seems Under the tax bill the Senate Finance Committee will take up on Tuesday, the federal estate tax would be repealed in 2011. Yet most people with estates large enough to owe taxes before the repeal date would owe more in taxes after the repeal. That is one of several anomalies in a bill that was jury-rigged to include all the different tax cuts President Bush campaigned for, more tax relief for low- and moderate-income taxpayers than the president proposed and a total cost of no more than the $1.35 trillion over 11 years that Congress allotted in the budget plan adopted last week. Another oddity relates to how the bill would increase the amount of income exempt from the alternative minimum tax. The purpose is to make sure that millions more people do not have to pay this alternative tax and thus be worse off than they would have been without the bill's cut in income-tax rates. But the increased exemption would only be in effect from 2002 through 2006. http://www.nytimes.com/2001/05/15/politics/15TAX.html?pagewanted=all