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.

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 pricesTransfer and inheritance taxes

Alternate Title(s) of Bill S 860

Death Tax Repeal Act of 2015A 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
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