Death Tax Repeal Act Re-Introduced for 116th Congress

Posted By: Sydni Dobson SLMA News ,

The Death Tax Repeal Act has been re-introduced in the House and Senate for the 116th Congress. The legislation would repeal the estate and generation-skipping transfer taxes. The House bill, HR 218, was introduced by Reps. Jason Smith (R-MO) and Sanford Bishop (D-GA) with 38 original co-sponsors. Sen. John Thune (R-SD) introduced a partner bill in the Senate,   

S 215, with 28 original co-sponsors.

 

SLMA is working with the Family Business Estate Tax Coalition to support full repeal of the death tax and to protect the advancements made on generational transfer taxes in the Tax Cuts and Jobs Act passed in the last Congress, which doubles the estate tax exemption to $11 million through 2025.