summary
Introduced
02/13/2025
02/13/2025
In Committee
02/13/2025
02/13/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes.
AI Summary
This bill proposes to completely repeal the estate tax (often referred to as the "death tax") and the generation-skipping transfer tax in the United States. Specifically, the bill would eliminate taxes currently imposed on the transfer of wealth from a deceased person to their heirs, both for immediate family members and for transfers that skip a generation (such as grandparents directly transferring assets to grandchildren). The bill would modify the Internal Revenue Code to stop applying these taxes to estates of individuals who die, generation-skipping transfers, and gifts made on or after the date of the bill's enactment. It also includes provisions to adjust the gift tax calculation, raising the lifetime gift tax exemption to $10 million and implementing an annual inflation adjustment for this amount. Additionally, the bill includes a transition rule that treats the year of enactment as two separate calendar years for tax purposes, ensuring a smooth implementation of the new tax provisions. By repealing these transfer taxes, the bill aims to allow individuals to pass down their wealth to heirs without incurring significant federal tax penalties.
Committee Categories
Budget and Finance
Sponsors (183)
Randy Feenstra (R)*,
Robert Aderholt (R),
Mark Alford (R),
Rick Allen (R),
Mark Amodei (R),
Jodey Arrington (R),
Brian Babin (R),
Don Bacon (R),
Jim Baird (R),
Troy Balderson (R),
Andy Barr (R),
Tom Barrett (R),
Michael Baumgartner (R),
Aaron Bean (R),
Nicholas Begich (R),
Jack Bergman (R),
Stephanie Bice (R),
Andy Biggs (R),
Sheri Biggs (R),
Gus Bilirakis (R),
Sanford Bishop (D),
Lauren Boebert (R),
Mike Bost (R),
Robert Bresnahan (R),
Vern Buchanan (R),
Tim Burchett (R),
Eric Burlison (R),
Ken Calvert (R),
Kat Cammack (R),
Mike Carey (R),
Buddy Carter (R),
John Carter (R),
Juan Ciscomani (R),
Ben Cline (R),
Michael Cloud (R),
Andrew Clyde (R),
Mike Collins (R),
James Comer (R),
Eli Crane (R),
Jeff Crank (R),
Rick Crawford (R),
Dan Crenshaw (R),
Warren Davidson (R),
Don Davis (D),
Monica De La Cruz (R),
Scott DesJarlais (R),
Mario Diaz-Balart (R),
Byron Donalds (R),
Troy Downing (R),
Neal Dunn (R),
Chuck Edwards (R),
Jake Ellzey (R),
Tom Emmer (R),
Gabe Evans (R),
Mike Ezell (R),
Pat Fallon (R),
Julie Fedorchak (R),
Brad Finstad (R),
Michelle Fischbach (R),
Scott Fitzgerald (R),
Chuck Fleischmann (R),
Mike Flood (R),
Vince Fong (R),
Virginia Foxx (R),
Scott Franklin (R),
Russell Fry (R),
Russ Fulcher (R),
Andrew Garbarino (R),
Brandon Gill (R),
Craig Goldman (R),
Dan Goldman (D),
Tony Gonzales (R),
Lance Gooden (R),
Paul Gosar (R),
Sam Graves (R),
Mark Green (R),
Marjorie Taylor Greene (R),
Morgan Griffith (R),
Michael Guest (R),
Brett Guthrie (R),
Mike Haridopolos (R),
Andy Harris (R),
Mark Harris (R),
Diana Harshbarger (R),
Kevin Hern (R),
Clay Higgins (R),
French Hill (R),
Ashley Hinson (R),
Erin Houchin (R),
Richard Hudson (R),
Jeff Hurd (R),
Darrell Issa (R),
Ronny Jackson (R),
Jim Jordan (R),
Dave Joyce (R),
John Joyce (R),
Mike Kelly (R),
Trent Kelly (R),
Kevin Kiley (R),
Brad Knott (R),
David Kustoff (R),
Darin LaHood (R),
Nick Langworthy (R),
Bob Latta (R),
Mike Lawler (R),
Julia Letlow (R),
Morgan Luttrell (R),
Nancy Mace (R),
Nicole Malliotakis (R),
Celeste Maloy (R),
Tracey Mann (R),
Thomas Massie (R),
Brian Mast (R),
Michael McCaul (R),
Tom McClintock (R),
Richard McCormick (R),
Addison McDowell (R),
John McGuire (R),
Mark Messmer (R),
Dan Meuser (R),
Carol Miller (R),
Mary Miller (R),
Max Miller (R),
Mariannette Miller-Meeks (R),
Cory Mills (R),
John Moolenaar (R),
Barry Moore (R),
Blake Moore (R),
Riley Moore (R),
Tim Moore (R),
Nathaniel Moran (R),
Greg Murphy (R),
Troy Nehls (R),
Dan Newhouse (R),
Ralph Norman (R),
Zach Nunn (R),
Andy Ogles (R),
Robert Onder (R),
Gary Palmer (R),
Scott Perry (R),
August Pfluger (R),
Guy Reschenthaler (R),
Hal Rogers (R),
Mike Rogers (R),
John Rose (R),
David Rouzer (R),
Chip Roy (R),
Michael Rulli (R),
John Rutherford (R),
Derek Schmidt (R),
Austin Scott (R),
Keith Self (R),
Pete Sessions (R),
Jefferson Shreve (R),
Mike Simpson (R),
Adrian Smith (R),
Jason Smith (R),
Lloyd Smucker (R),
Pete Stauber (R),
Elise Stefanik (R),
Greg Steube (R),
Dale Strong (R),
Marlin Stutzman (R),
David Taylor (R),
Claudia Tenney (R),
G.T. Thompson (R),
Tom Tiffany (R),
Mike Turner (R),
David Valadao (R),
Jeff Van Drew (R),
Beth Van Duyne (R),
Derrick Van Orden (R),
Ann Wagner (R),
Tim Walberg (R),
Randy Weber (R),
Daniel Webster (R),
Bruce Westerman (R),
Tony Wied (R),
Roger Williams (R),
Joe Wilson (R),
Steve Womack (R),
Rudy Yakym (R),
Ryan Zinke (R),
Last Action
Referred to the House Committee on Ways and Means. (on 02/13/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/1301/all-info |
BillText | https://www.congress.gov/119/bills/hr1301/BILLS-119hr1301ih.pdf |
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