HR 7035
Death Tax Repeal Act
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Death Tax Repeal Act aims to eliminate the federal estate and generation-skipping transfer taxes. It achieves this by amending the Internal Revenue Code to terminate these taxes on estates and transfers occurring on or after the bill’s enactment date. The bill also includes conforming amendments to the gift tax provisions, adjusting the calculation of gift tax liabilities and updating the lifetime gift exemption to account for inflation. These changes are intended to remove what are known as ‘death taxes’ from the tax code.
Sponsors
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Primary sponsor
Cosponsors
A. Drew, IV Ferguson
Alexander X. Mooney
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