On December 15th, the US Senate passed Senate Amendment 4753 to H.R. 4853, “The Middle Class Tax Relief Act of 2010.” The vote was 81-19.
You can read the full text of the legislation here: http://thomas.loc.gov/cgi-bin/query/R?r111:FLD001:S58720. Title III of the bill deals with the temporary increase in the exemption amounts for federal estate, gift and generation skipping taxes. House approval is expected and the bill could be on the President's desk before Christmas.