summary
Introduced
03/29/2018
03/29/2018
In Committee
03/29/2018
03/29/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Death Tax Repeal Act This bill amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make conforming amendments related to the gift tax.
AI Summary
This bill, the Death Tax Repeal Act, aims to amend the Internal Revenue Code to repeal the estate and generation-skipping transfer taxes, as well as make related changes to the gift tax. Specifically, it would terminate the application of the estate tax and generation-skipping transfer tax for decedents dying and transfers made on or after the date of the bill's enactment. It also makes adjustments to the computation and lifetime exemption for the gift tax. The bill is intended to eliminate the so-called "death tax" that is levied on the transfer of wealth from one generation to the next.
Committee Categories
Budget and Finance
Sponsors (12)
Jason Smith (R)*,
Lou Barletta (R),
Rob Bishop (R),
Sanford Bishop (D),
Drew Ferguson (R),
Evan Jenkins (R),
Billy Long (R),
Luke Messer (R),
Kristi Noem (R),
Todd Rokita (R),
Ann Wagner (R),
Steve Womack (R),
Last Action
Referred to the House Committee on Ways and Means. (on 03/29/2018)
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/115th-congress/house-bill/5422/all-info |
| BillText | https://www.congress.gov/115/bills/hr5422/BILLS-115hr5422ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr5422/BILLS-115hr5422ih.pdf.pdf |
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