Death Tax Repeal Act of 2015

1/11/2023, 1:27 PM

Death Tax Repeal Act of 2015

Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. Provides for an inflation adjustment to such exemption amount.

Congress
114
Number
S - 860
Introduced on
2015-03-25
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

3/25/2015
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Death Tax Repeal Act of 2015

Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. Provides for an inflation adjustment to such exemption amount.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, and for other purposes.
Policy Areas
Taxation
Potential Impact
Inflation and prices•
Transfer and inheritance taxes

Comments

Related

Member:  Johnny Isakson
Member:  Pat Roberts
Member:  John McCain
Member:  Mark Kirk
Member:  Richard C. Shelby
Member:  Dean Heller
Member:  Cory Gardner
Member:  David Vitter
Member:  David Perdue
Member:  Kelly Ayotte
Member:  Thad Cochran
Member:  Michael B. Enzi
Member:  Jeff Flake
Member:  Daniel Coats
Member:  Lamar Alexander
Bill Update Alert:  Death Tax Repeal Act of 2015
Bill Update Alert:  Small Business Bill of Rights
Bill Update Alert:  Main Street Jobs and Opportunity Act of 2016

Recent Activity

Latest Summary4/9/2015

Death Tax Repeal Act of 2015

Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. Prov...

Latest Action3/25/2015
Read twice and referred to the Committee on Finance.