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Correction: Small Talk story

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By JOYCE M. ROSENBERG, The Associated Press Updated 11:46 AM Friday, February 17, 2012

NEW YORK — In a Feb. 16 story about reaction to President Barack Obama's budget proposal, The Associated Press erroneously reported that Obama was proposing a $1 million exemption for the federal estate tax and a tax rate of 55 percent for amounts above that threshold. Obama actually proposed a $3.5 million exemption and a tax rate of 45 percent.

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February 17, 2012 04:43 PM EST

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