Sens. Jon Kyl (R-AZ) and Blanche Lincoln (D-AR) have offered a $250 billion proposal to cut estate taxes for the children of multi-millionaires

Kyl and Lincoln’s “most pressing issue is clear: America’s wealthiest families need help. Now.”

“only 0.2 percent of the additional cost of the proposal, relative to [the Obama proposal], would go toward tax cuts for small businesses and farms.”

The Waltons — the Arkansas-based family that founded Wal-Mart — are one of the key groups financing the campaign

“With all the serious work before Congress, it is a colossal waste of time to have to rebut the false claims and warped premises of ardent estate-tax cutters,” the NYT writes. “Ms. Lincoln’s and Mr. Kyl’s colleagues in the Senate should make short work of it and move on to urgent matters.”