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Repealing Federal Estate and Generation-Skipping Transfer Taxes

This bill repeals the federal Estate Tax and the Generation-Skipping Transfer Tax (GSTT) for estates of decedents dying on or after the date of enactment. The legislation also modifies the Gift Tax by introducing a new rate schedule (with a top rate of 35% over $500,000) and setting a lifetime exemption amount of $10 million, adjusted for inflation.
Key points
Repeal of the federal Estate Tax for decedents dying on or after the date of enactment.
Repeal of the Generation-Skipping Transfer Tax (GSTT) for transfers on or after the date of enactment.
Modification of the Gift Tax: Introduction of a new rate schedule (ranging from 18% to 35%) and setting the exemption amount at $10 million (adjusted for inflation).
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Expired
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Additional Information
Print number: 118_S_1108
Sponsor: Sen. Thune, John [R-SD]
Process start date: 2023-03-30
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Death Tax Repeal Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1108.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-30.

What are the main provisions?

Key points include:

  • Repeal of the federal Estate Tax for decedents dying on or after the date of enactment.
  • Repeal of the Generation-Skipping Transfer Tax (GSTT) for transfers on or after the date of enactment.
  • Modification of the Gift Tax: Introduction of a new rate schedule (ranging from 18% to 35%) and setting the exemption amount at $10 million (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 Sen. Thune, John [R-SD].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

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