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Estate Tax Repeal: Easier Wealth Transfer for Families

This bill aims to completely eliminate the estate tax, meaning that after a loved one's death, there will be no additional tax on inherited assets. This change could provide financial relief to families and simplify the process of passing down wealth across generations.
Key points
Abolition of the estate tax for individuals dying after December 31, 2020.
Retention of the stepped-up basis rule for inherited assets, potentially reducing future capital gains taxes.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_822
Sponsor: Rep. Latta, Robert E. [R-OH-5]
Process start date: 2021-02-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Permanently Repeal the Estate Tax Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_822.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-04.

What are the main provisions?

Key points include:

  • Abolition of the estate tax for individuals dying after December 31, 2020.
  • Retention of the stepped-up basis rule for inherited assets, potentially reducing future capital gains taxes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Latta, Robert E. [R-OH-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Family