Death Tax Repeal Act

# Death Tax Repeal Act Summary **What the Bill Would Do** The Death Tax Repeal Act seeks to eliminate the federal estate tax, commonly called the "death tax." This is a tax that currently applies to the transfer of large estates from deceased individuals to their heirs. Under current law, estates valued above a certain threshold (approximately $13.61 million per person in 2024) are subject to federal taxation before being passed to beneficiaries. If passed, this bill would permanently repeal that tax entirely. **Who It Affects and Key Details** This bill would primarily benefit wealthy families and large business owners, as the estate tax currently only applies to a small percentage of the wealthiest Americans.

Supporters argue it would eliminate what they view as "double taxation" and help preserve family farms and businesses. Opponents contend it would reduce federal tax revenue and increase the tax burden on middle- and lower-income earners to compensate. The bill is currently in committee, meaning it has been referred to the appropriate House committee for review and debate but has not yet advanced to a full House vote.