[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1301 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 1301
To amend the Internal Revenue Code of 1986 to repeal the estate and
generation-skipping transfer taxes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 13, 2025
Mr. Feenstra (for himself, Mr. Bishop, Mr. Smith of Missouri, Mr.
Emmer, Mr. Buchanan, Mr. Rouzer, Mr. Finstad, Mr. Fleischmann, Mr.
Amodei of Nevada, Ms. Tenney, Mr. Perry, Mr. Meuser, Mr. Strong, Mr.
Zinke, Mr. Fitzgerald, Mr. LaHood, Mr. Moolenaar, Mr. Ellzey, Mr. Joyce
of Pennsylvania, Mr. Bilirakis, Mr. Clyde, Mr. Collins, Mrs.
Harshbarger, Mr. Weber of Texas, Mr. Latta, Mr. Bost, Ms. De La Cruz,
Mr. Moore of Utah, Mr. Crenshaw, Mr. Stauber, Mr. Ciscomani, Mr. Crane,
Mr. Burlison, Mrs. Miller of West Virginia, Mr. Lawler, Ms. Van Duyne,
Mr. Jackson of Texas, Mr. Babin, Mrs. Wagner, Ms. Mace, Mr. Moore of
West Virginia, Mrs. Cammack, Ms. Boebert, Mr. Fry, Mr. Cloud, Mr.
McCormick, Mr. Bacon, Mr. Issa, Mr. Pfluger, Mr. Roy, Mr. Miller of
Ohio, Mr. Carter of Georgia, Mr. Smith of Nebraska, Mr. Schmidt, Mr.
Williams of Texas, Mr. Cline, Mr. Langworthy, Mr. Smucker, Mr. Ezell,
Mr. Rogers of Alabama, Mr. Downing, Mr. Scott Franklin of Florida, Mr.
Biggs of Arizona, Mr. Rutherford, Mr. Yakym, Mr. Edwards, Mr. McDowell,
Mrs. Bice, Mr. Kelly of Pennsylvania, Mr. Barrett, Mr. Garbarino, Mr.
Baird, Mr. Van Orden, Mr. Kustoff, Mr. Thompson of Pennsylvania, Mr.
Newhouse, Mr. Self, Mr. Graves, Mr. Gill of Texas, Mr. Nunn of Iowa,
Mr. Valadao, Ms. Letlow, Mr. Calvert, Mr. Hern of Oklahoma, Mr. Fallon,
Mr. Fulcher, Ms. Foxx, Mr. Palmer, Mr. Green of Tennessee, Mr. Tiffany,
Mr. Ogles, Mr. Moran, Mr. McCaul, Mr. Alford, Mr. Guthrie, Mr. Guest,
Mr. Higgins of Louisiana, Mr. Evans of Colorado, Mrs. Miller-Meeks,
Mrs. Hinson, Mr. Griffith, Mr. Womack, Mr. Kelly of Mississippi, Mr.
Moore of North Carolina, Mr. McClintock, Mr. Harris of North Carolina,
Mr. Balderson, Mrs. Houchin, Mr. Mann, Mr. Rulli, Mr. Wied, Mr. Fong,
Mr. Simpson, Mr. Steube, Mr. Sessions, Mr. Bean of Florida, Mr. Murphy,
Mr. Taylor, Mr. Crank, Mrs. Biggs of South Carolina, Ms. Maloy, Mr.
Bresnahan, Mr. Comer, Mrs. Fischbach, Mr. Davidson, Mr. Van Drew, Mr.
Turner of Ohio, Mr. Carey, Mr. Hurd of Colorado, Mr. Mills, Mr. Rose,
Mr. Wilson of South Carolina, Mr. Norman, Mr. Westerman, Mr. Gooden,
Mr. Stutzman, Mr. Austin Scott of Georgia, Mr. Kiley of California, Mr.
Haridopolos, Mr. Davis of North Carolina, Ms. Greene of Georgia, Mrs.
Miller of Illinois, Mr. Moore of Alabama, Mr. Allen, Mr. Bergman, Mr.
DesJarlais, Mr. Flood, Mr. Harris of Maryland, Mr. Barr, Mr. Jordan,
Mr. Messmer, Mr. Diaz-Balart, Mr. Gosar, Mr. Walberg, Mr. Hill of
Arkansas, Mr. McGuire, Mr. Arrington, Mr. Tony Gonzales of Texas, Mr.
Aderholt, Mr. Nehls, Ms. Fedorchak, Mr. Begich, Mr. Burchett, Mr.
Donalds, Mr. Baumgartner, Ms. Malliotakis, Mr. Crawford, Mr. Luttrell,
Mr. Dunn of Florida, Mr. Massie, Mr. Mast, Mr. Rogers of Kentucky, Mr.
Carter of Texas, Mr. Hudson, Mr. Goldman of New York, and Mr. Joyce of
Ohio) introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to repeal the estate and
generation-skipping transfer taxes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Death Tax Repeal Act''.
SEC. 2. REPEAL OF ESTATE AND GENERATION-SKIPPING TRANSFER TAXES.
(a) Estate Tax Repeal.--
(1) In general.--Subchapter C of chapter 11 of subtitle B
of the Internal Revenue Code of 1986 is amended by adding at
the end the following new section:
``SEC. 2210. TERMINATION.
``(a) In General.--Except as provided in subsection (b), this
chapter shall not apply to the estates of decedents dying on or after
the date of the enactment of the Death Tax Repeal Act.
``(b) Certain Distributions From Qualified Domestic Trusts.--In
applying section 2056A with respect to the surviving spouse of a
decedent dying before the date of the enactment of the Death Tax Repeal
Act--
``(1) section 2056A(b)(1)(A) shall not apply to
distributions made after the 10-year period beginning on such
date, and
``(2) section 2056A(b)(1)(B) shall not apply on or after
such date.''.
(2) Clerical amendment.--The table of sections for
subchapter C of chapter 11 of the Internal Revenue Code of 1986
is amended by adding at the end the following new item:
``Sec. 2210. Termination.''.
(b) Generation-Skipping Transfer Tax Repeal.--
(1) In general.--Subchapter G of chapter 13 of subtitle B
of such Code is amended by adding at the end the following new
section:
``SEC. 2664. TERMINATION.
``This chapter shall not apply to generation-skipping transfers on
or after the date of the enactment of the Death Tax Repeal Act.''.
(2) Clerical amendment.--The table of sections for
subchapter G of chapter 13 of such Code is amended by adding at
the end the following new item:
``Sec. 2664. Termination.''.
(c) Conforming Amendments Related to Gift Tax.--
(1) Computation of gift tax.--Subsection (a) of section
2502 of the Internal Revenue Code of 1986 is amended to read as
follows:
``(a) Computation of Tax.--
``(1) In general.--The tax imposed by section 2501 for each
calendar year shall be an amount equal to the excess of--
``(A) a tentative tax, computed under paragraph
(2), on the aggregate sum of the taxable gifts for such
calendar year and for each of the preceding calendar
periods, over
``(B) a tentative tax, computed under paragraph
(2), on the aggregate sum of the taxable gifts for each
of the preceding calendar periods.
``(2) Rate schedule.--
``If the amount with respect
to which the tentative tax
to be computed is: The tentative tax is:
Not over $10,000...............
18% of such amount.
Over $10,000 but not over
$20,000.
$1,800, plus 20% of the excess
over $10,000.
Over $20,000 but not over
$40,000.
$3,800, plus 22% of the excess
over $20,000.
Over $40,000 but not over
$60,000.
$8,200, plus 24% of the excess
over $40,000.
Over $60,000 but not over
$80,000.
$13,000, plus 26% of the excess
over $60,000.
Over $80,000 but not over
$100,000.
$18,200, plus 28% of the excess
over $80,000.
Over $100,000 but not over
$150,000.
$23,800, plus 30% of the excess
over $100,000.
Over $150,000 but not over
$250,000.
$38,800, plus 32% of the excess
of $150,000.
Over $250,000 but not over
$500,000.
$70,800, plus 34% of the excess
over $250,000.
Over $500,000..................
$155,800, plus 35% of the
excess of $500,000.''.
(2) Lifetime gift exemption.--
(A) In general.--Paragraph (1) of section 2505(a)
of the Internal Revenue Code of 1986 is amended to read
as follows:
``(1) the amount of the tentative tax which would be
determined under the rate schedule set forth in section
2502(a)(2) if the amount with respect to which such tentative
tax is to be computed were $10,000,000, reduced by''.
(B) Inflation adjustment.--Section 2505 of such
Code is amended by adding at the end the following new
subsection:
``(d) Inflation Adjustment.--
``(1) In general.--In the case of any calendar year after
2011, the dollar amount in subsection (a)(1) shall be increased
by an amount equal to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined
under section 1(f)(3) for such calendar year by
substituting `calendar year 2010' for `calendar year
2016' in subparagraph (A)(ii) thereof.
``(2) Rounding.--If any amount as adjusted under paragraph
(1) is not a multiple of $10,000, such amount shall be rounded
to the nearest multiple of $10,000.''.
(3) Other conforming amendments related to gift tax.--
(A) The heading for section 2505 of such Code is
amended by striking ``unified''.
(B) The item in the table of sections for
subchapter A of chapter 12 of such Code relating to
section 2505 is amended to read as follows:
``Sec. 2505. Credit against gift tax.''.
(C) Section 2801(a)(1) of such Code is amended by
striking ``section 2001(c) as in effect on the date of
such receipt'' and inserting ``section 2502(a)(2)''.
(d) Effective Date.--The amendments made by this section shall
apply to estates of decedents dying, generation-skipping transfers, and
gifts made, on or after the date of the enactment of this Act.
(e) Transition Rule.--
(1) In general.--For purposes of applying sections 1015(d),
2502, and 2505 of the Internal Revenue Code of 1986, the
calendar year in which this Act is enacted shall be treated as
two separate calendar years one of which ends on the day before
the date of the enactment of this Act and the other of which
begins on such date of enactment.
(2) Application of section 2504(b).--For purposes of
applying section 2504(b) of the Internal Revenue Code of 1986,
the calendar year in which this Act is enacted shall be treated
as one preceding calendar period.
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