By Peter Baker | The New York Times
President Obama and the Republicans in Congress clashed over taxes and wealth on Thursday, a day after many Americans sent checks to the Internal Revenue Service, as the House voted to repeal the federal tax levied on multimillion-dollar estates.
Republican leaders hailed the vote as a victory for farmers and small-business owners who may otherwise be forced to sell assets after the death of a spouse or a parent to pay taxes on property that has already been taxed. The White House called it a giveaway to a few thousand of the nation’s wealthiest families and said it would raise federal deficits.
