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Full Repeal of Federal Estate and Generation-Skipping Transfer Taxes

This bill aims to completely eliminate the federal estate tax and the generation-skipping transfer tax. If enacted, the estates of deceased individuals will no longer be subject to these federal taxes. The bill also modifies the calculation of the gift tax, while maintaining a lifetime exemption amount.
Key points
Complete elimination of the federal Estate Tax for individuals dying on or after the date the Act is passed.
Complete elimination of the federal Generation-Skipping Transfer Tax (GSTT).
Gift Tax changes: the tax remains with a new rate schedule and the retention of an exemption based on a $10 million amount (adjusted for inflation).
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_7035
Sponsor: Rep. Feenstra, Randy [R-IA-4]
Process start date: 2024-01-18
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Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Death Tax Repeal Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7035.

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 2024-01-18.

What are the main provisions?

Key points include:

  • Complete elimination of the federal Estate Tax for individuals dying on or after the date the Act is passed.
  • Complete elimination of the federal Generation-Skipping Transfer Tax (GSTT).
  • Gift Tax changes: the tax remains with a new rate schedule and the retention of an exemption based on a $10 million amount (adjusted for inflation).
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. Feenstra, Randy [R-IA-4].

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 2025-12-30.

CATEGORIES

Taxes Family