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Bill > S1108

US S1108

US S1108
Death Tax Repeal Act of 2023

summary

Introduced
03/30/2023
In Committee
03/30/2023
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A bill to amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, and for other purposes.

AI Summary

This bill, the Death Tax Repeal Act of 2023, proposes to repeal the estate and generation-skipping transfer taxes under the Internal Revenue Code of 1986. It would eliminate the estate tax, which is a tax on the transfer of a deceased person's property, and the generation-skipping transfer tax, which is a tax on transfers that skip a generation, such as from a grandparent to a grandchild. The bill also modifies the gift tax, including adjusting the rate schedule and lifetime gift exemption amount. The amendments would apply to the estates of decedents dying and generation-skipping transfers after the date of enactment.

Committee Categories

Budget and Finance

Sponsors (42)

John Thune (R)*,  John Barrasso (R),  Marsha Blackburn (R),  John Boozman (R),  Katie Boyd Britt (R),  Mike Braun (R),  Ted Budd (R),  Shelley Moore Capito (R),  John Cornyn (R),  Tom Cotton (R),  Kevin Cramer (R),  Mike Crapo (R),  Ted Cruz (R),  Steve Daines (R),  Joni Ernst (R),  Deb Fischer (R),  Lindsey Graham (R),  Chuck Grassley (R),  Bill Hagerty (R),  Josh Hawley (R),  John Hoeven (R),  Cindy Hyde-Smith (R),  Ron Johnson (R),  John Neely Kennedy (R),  James Lankford (R),  Mike Lee (R),  Cynthia Lummis (R),  Roger Marshall (R),  Mitch McConnell (R),  Jerry Moran (R),  Markwayne Mullin (R),  Pete Ricketts (R),  Jim Risch (R),  Mike Rounds (R),  Marco Rubio (R),  Eric Schmitt (R),  Rick Scott (R),  Tim Scott (R),  Thom Tillis (R),  Tommy Tuberville (R),  J.D. Vance (R),  Roger Wicker (R), 

Last Action

Committee on Small Business and Entrepreneurship. Hearings held. (on 01/24/2024)

Taxonomy

Macroeconomics
  • ‐ Taxation, Tax Policy, and Tax Reform
(2 Companion Bills)

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Document Type Source Location Created
State Bill Page https://www.congress.gov/bill/118th-congress/senate-bill/1108/all-info 03/31/2023
BillText https://www.congress.gov/118/bills/s1108/BILLS-118s1108is.pdf 04/14/2023
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