I
119th CONGRESS
1st Session
H. R. 1301
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.
Short title
This Act may be cited as the Death Tax Repeal Act
.
Repeal of estate and generation-skipping transfer taxes
Estate tax repeal
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:
Termination
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.
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—
section 2056A(b)(1)(A) shall not apply to distributions made after the 10-year period beginning on such date, and
section 2056A(b)(1)(B) shall not apply on or after such date.
.
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.
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Generation-Skipping transfer tax repeal
In general
Subchapter G of chapter 13 of subtitle B of such Code is amended by adding at the end the following new section:
Termination
This chapter shall not apply to generation-skipping transfers on or after the date of the enactment of the Death Tax Repeal Act.
.
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.
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Conforming amendments related to gift tax
Computation of gift tax
Subsection (a) of section 2502 of the Internal Revenue Code of 1986 is amended to read as follows:
Computation of tax
In general
The tax imposed by section 2501 for each calendar year shall be an amount equal to the excess of—
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
a tentative tax, computed under paragraph (2), on the aggregate sum of the taxable gifts for each of the preceding calendar periods.
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. |
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Lifetime gift exemption
In general
Paragraph (1) of section 2505(a) of the Internal Revenue Code of 1986 is amended to read as follows:
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
.
Inflation adjustment
Section 2505 of such Code is amended by adding at the end the following new subsection:
Inflation adjustment
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—
such dollar amount, multiplied by
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.
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.
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Other conforming amendments related to gift tax
The heading for section 2505 of such Code is amended by striking Unified
.
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.
.
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)
.
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.
Transition rule
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.
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.