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Repeal of Federal Estate and Generation-Skipping Transfer Taxes

This legislation completely eliminates the federal Estate Tax and the Generation-Skipping Transfer (GST) Tax for individuals dying after the law's enactment. Consequently, inherited estates will no longer be subject to these specific federal levies. The bill also modifies the rules for the Gift Tax, introducing a new rate schedule and setting the lifetime exemption amount at $10 million, subject to inflation adjustment.
Key points
Complete repeal of the federal Estate Tax for individuals dying after the law's enactment.
Elimination of the federal Generation-Skipping Transfer Tax (GST Tax).
Modification of the Gift Tax calculation, setting the exemption amount at $10 million (indexed for inflation).
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_587
Sponsor: Sen. Thune, John [R-SD]
Process start date: 2025-02-13
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Death Tax Repeal Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_587.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-13.

What are the main provisions?

Key points include:

  • Complete repeal of the federal Estate Tax for individuals dying after the law's enactment.
  • Elimination of the federal Generation-Skipping Transfer Tax (GST Tax).
  • Modification of the Gift Tax calculation, setting the exemption amount at $10 million (indexed for inflation).
What is the specific legal status?

The current status is Introduced.

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 2025-12-31.

CATEGORIES

Taxes Economy