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Death Tax Repeal Act of 2015

1/11/2023, 1:27 PM

Congressional Summary of S 860

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.

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Current Status of Bill S 860

Bill S 860 is currently in the status of Bill Introduced since March 25, 2015. Bill S 860 was introduced during Congress 114 and was introduced to the Senate on March 25, 2015.  Bill S 860's most recent activity was Read twice and referred to the Committee on Finance. as of March 25, 2015

Bipartisan Support of Bill S 860

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
40
Democrat Cosponsors
0
Republican Cosponsors
40
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 860

Primary Policy Focus

Taxation

Potential Impact Areas

- Inflation and prices
- Transfer and inheritance taxes

Alternate Title(s) of Bill S 860

Death Tax Repeal Act of 2015
A bill to amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, and for other purposes.
Death Tax Repeal Act of 2015

Comments

Sponsors and Cosponsors of S 860

John Thune
John Thune
South DakotaRepublican
Roger F. Wicker
Roger F. Wicker
MississippiRepublican
David Vitter
David Vitter
LouisianaRepublican
Patrick J. Toomey
Patrick J. Toomey
PennsylvaniaRepublican
Dan Sullivan
Dan Sullivan
AlaskaRepublican
Tim Scott
Tim Scott
South CarolinaRepublican

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