Bill Decreasing Federal Estate Tax Dies

From the New York Times:

Senate Democrats on Thursday blocked legislation tying the first minimum wage increase in almost a decade to a decrease in the federal estate tax, denying Republicans a legislative victory as lawmakers head into a crucial month of campaigning before the November elections. Republican backers of the measure, dubbed the trifecta for its three chief elements, fell 4 votes short of the 60 needed to cut off debate. Democrats had argued that it was a bad bargain to exchange a $2.10 wage increase for struggling workers for a costly tax cut for the country’s wealthiest families.

“This trifecta is a high-stakes gamble with America’s future,” said Senator Richard J. Durbin of Illinois, the Senate’s No. 2 Democrat. “This is the worst special-interest bill I have seen in my time in Congress.”

Scrambling to complete its business and join the House in an August recess, the Senate also approved and sent to the president a major overhaul of pension law as Republicans sought to record some last-minute accomplishments.

But the failure of the bill linking the wage increase and the tax cut was a significant defeat for Senator Bill Frist, the majority leader entering his last months in the post. Mr. Frist had hoped to steer the measure through the Senate, partly with the help of an accompanying series of tax incentives and federal aid to woo lawmakers.

Maybe Frist should reconsider his decision to run in 2008. The last thing this country needs is another incompetent president.