Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1301 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 1301
5	5	To amend the Internal Revenue Code of 1986 to repeal the estate and
6	6	generation-skipping transfer taxes.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	FEBRUARY13, 2025
9	9	Mr. F
10	10	EENSTRA(for himself, Mr. BISHOP, Mr. SMITHof Missouri, Mr.
11	11	E
12	12	MMER, Mr. BUCHANAN, Mr. ROUZER, Mr. FINSTAD, Mr.
13	13	F
14	14	LEISCHMANN, Mr. AMODEIof Nevada, Ms. TENNEY, Mr. PERRY, Mr.
15	15	M
16	16	EUSER, Mr. STRONG, Mr. ZINKE, Mr. FITZGERALD, Mr. LAHOOD, Mr.
17	17	M
18	18	OOLENAAR, Mr. ELLZEY, Mr. JOYCEof Pennsylvania, Mr. BILIRAKIS,
19	19	Mr. C
20	20	LYDE, Mr. COLLINS, Mrs. HARSHBARGER, Mr. WEBERof Texas,
21	21	Mr. L
22	22	ATTA, Mr. BOST, Ms. DELACRUZ, Mr. MOOREof Utah, Mr.
23	23	C
24	24	RENSHAW, Mr. STAUBER, Mr. CISCOMANI, Mr. CRANE, Mr. BURLISON,
25	25	Mrs. M
26	26	ILLERof West Virginia, Mr. LAWLER, Ms. VANDUYNE, Mr.
27	27	J
28	28	ACKSONof Texas, Mr. BABIN, Mrs. WAGNER, Ms. MACE, Mr. MOORE
29	29	of West Virginia, Mrs. C
30	30	AMMACK, Ms. BOEBERT, Mr. FRY, Mr. CLOUD,
31	31	Mr. M
32	32	CCORMICK, Mr. BACON, Mr. ISSA, Mr. PFLUGER, Mr. ROY, Mr.
33	33	M
34	34	ILLERof Ohio, Mr. CARTERof Georgia, Mr. SMITHof Nebraska, Mr.
35	35	S
36	36	CHMIDT, Mr. WILLIAMSof Texas, Mr. CLINE, Mr. LANGWORTHY, Mr.
37	37	S
38	38	MUCKER, Mr. EZELL, Mr. ROGERSof Alabama, Mr. DOWNING, Mr.
39	39	S
40	40	COTTFRANKLINof Florida, Mr. BIGGSof Arizona, Mr. RUTHERFORD,
41	41	Mr. Y
42	42	AKYM, Mr. EDWARDS, Mr. MCDOWELL, Mrs. BICE, Mr. KELLYof
43	43	Pennsylvania, Mr. B
44	44	ARRETT, Mr. GARBARINO, Mr. BAIRD, Mr. VAN
45	45	O
46	46	RDEN, Mr. KUSTOFF, Mr. THOMPSONof Pennsylvania, Mr. NEWHOUSE,
47	47	Mr. S
48	48	ELF, Mr. GRAVES, Mr. GILLof Texas, Mr. NUNNof Iowa, Mr.
49	49	V
50	50	ALADAO, Ms. LETLOW, Mr. CALVERT, Mr. HERNof Oklahoma, Mr.
51	51	F
52	52	ALLON, Mr. FULCHER, Ms. FOXX, Mr. PALMER, Mr. GREENof Ten-
53	53	nessee, Mr. T
54	54	IFFANY, Mr. OGLES, Mr. MORAN, Mr. MCCAUL, Mr.
55	55	A
56	56	LFORD, Mr. GUTHRIE, Mr. GUEST, Mr. HIGGINSof Louisiana, Mr.
57	57	E
58	58	VANSof Colorado, Mrs. MILLER-MEEKS, Mrs. HINSON, Mr. GRIFFITH,
59	59	Mr. W
60	60	OMACK, Mr. KELLYof Mississippi, Mr. MOOREof North Carolina,
61	61	Mr. M
62	62	CCLINTOCK, Mr. HARRISof North Carolina, Mr. BALDERSON, Mrs.
63	63	H
64	64	OUCHIN, Mr. MANN, Mr. RULLI, Mr. WIED, Mr. FONG, Mr. SIMPSON,
65	65	Mr. S
66	66	TEUBE, Mr. SESSIONS, Mr. BEANof Florida, Mr. MURPHY, Mr.
67	67	T
68	68	AYLOR, Mr. CRANK, Mrs. BIGGSof South Carolina, Ms. MALOY, Mr.
69	69	B
70	70	RESNAHAN, Mr. COMER, Mrs. FISCHBACH, Mr. DAVIDSON, Mr. VAN
71	71	D
72	72	REW, Mr. TURNERof Ohio, Mr. CAREY, Mr. HURDof Colorado, Mr.
73	73	M
74	74	ILLS, Mr. ROSE, Mr. WILSONof South Carolina, Mr. NORMAN, Mr.
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77	77	•HR 1301 IH
78	78	WESTERMAN, Mr. GOODEN, Mr. STUTZMAN, Mr. AUSTINSCOTTof Geor-
79	79	gia, Mr. K
80	80	ILEYof California, Mr. HARIDOPOLOS, Mr. DAVISof North
81	81	Carolina, Ms. G
82	82	REENEof Georgia, Mrs. MILLERof Illinois, Mr. MOORE
83	83	of Alabama, Mr. A
84	84	LLEN, Mr. BERGMAN, Mr. DESJARLAIS, Mr. FLOOD,
85	85	Mr. H
86	86	ARRISof Maryland, Mr. BARR, Mr. JORDAN, Mr. MESSMER, Mr.
87	87	D
88	88	IAZ-BALART, Mr. GOSAR, Mr. WALBERG, Mr. HILLof Arkansas, Mr.
89	89	M
90	90	CGUIRE, Mr. ARRINGTON, Mr. TONYGONZALESof Texas, Mr. ADER-
91	91	HOLT, Mr. NEHLS, Ms. FEDORCHAK, Mr. BEGICH, Mr. BURCHETT, Mr.
92	92	D
93	93	ONALDS, Mr. BAUMGARTNER, Ms. MALLIOTAKIS, Mr. CRAWFORD, Mr.
94	94	L
95	95	UTTRELL, Mr. DUNNof Florida, Mr. MASSIE, Mr. MAST, Mr. ROGERS
96	96	of Kentucky, Mr. C
97	97	ARTERof Texas, Mr. HUDSON, Mr. GOLDMANof New
98	98	York, and Mr. J
99	99	OYCEof Ohio) introduced the following bill; which was
100	100	referred to the Committee on Ways and Means
101	101	A BILL
102	102	To amend the Internal Revenue Code of 1986 to repeal
103	103	the estate and generation-skipping transfer taxes.
104	104	Be it enacted by the Senate and House of Representa-1
105	105	tives of the United States of America in Congress assembled, 2
106	106	SECTION 1. SHORT TITLE. 3
107	107	This Act may be cited as the ‘‘Death Tax Repeal 4
108	108	Act’’. 5
109	109	SEC. 2. REPEAL OF ESTATE AND GENERATION-SKIPPING 6
110	110	TRANSFER TAXES. 7
111	111	(a) E
112	112	STATETAXREPEAL.— 8
113	113	(1) I
114	114	N GENERAL.—Subchapter C of chapter 11 9
115	115	of subtitle B of the Internal Revenue Code of 1986 10
116	116	is amended by adding at the end the following new 11
117	117	section: 12
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120	120	•HR 1301 IH
121	121	‘‘SEC. 2210. TERMINATION. 1
122	122	‘‘(a) I
123	123	NGENERAL.—Except as provided in subsection 2
124	124	(b), this chapter shall not apply to the estates of decedents 3
125	125	dying on or after the date of the enactment of the Death 4
126	126	Tax Repeal Act. 5
127	127	‘‘(b) C
128	128	ERTAINDISTRIBUTIONSFROMQUALIFIED 6
129	129	D
130	130	OMESTICTRUSTS.—In applying section 2056A with re-7
131	131	spect to the surviving spouse of a decedent dying before 8
132	132	the date of the enactment of the Death Tax Repeal Act— 9
133	133	‘‘(1) section 2056A(b)(1)(A) shall not apply to 10
134	134	distributions made after the 10-year period begin-11
135	135	ning on such date, and 12
136	136	‘‘(2) section 2056A(b)(1)(B) shall not apply on 13
137	137	or after such date.’’. 14
138	138	(2) C
139	139	LERICAL AMENDMENT .—The table of sec-15
140	140	tions for subchapter C of chapter 11 of the Internal 16
141	141	Revenue Code of 1986 is amended by adding at the 17
142	142	end the following new item: 18
143	143	‘‘Sec. 2210. Termination.’’.
144	144	(b) GENERATION-SKIPPINGTRANSFERTAXRE-19
145	145	PEAL.— 20
146	146	(1) I
147	147	N GENERAL.—Subchapter G of chapter 13 21
148	148	of subtitle B of such Code is amended by adding at 22
149	149	the end the following new section: 23
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152	152	•HR 1301 IH
153	153	‘‘SEC. 2664. TERMINATION. 1
154	154	‘‘This chapter shall not apply to generation-skipping 2
155	155	transfers on or after the date of the enactment of the 3
156	156	Death Tax Repeal Act.’’. 4
157	157	(2) C
158	158	LERICAL AMENDMENT .—The table of sec-5
159	159	tions for subchapter G of chapter 13 of such Code 6
160	160	is amended by adding at the end the following new 7
161	161	item: 8
162	162	‘‘Sec. 2664. Termination.’’.
163	163	(c) CONFORMINGAMENDMENTS RELATED TOGIFT 9
164	164	T
165	165	AX.— 10
166	166	(1) C
167	167	OMPUTATION OF GIFT TAX .—Subsection 11
168	168	(a) of section 2502 of the Internal Revenue Code of 12
169	169	1986 is amended to read as follows: 13
170	170	‘‘(a) C
171	171	OMPUTATION OFTAX.— 14
172	172	‘‘(1) I
173	173	N GENERAL.—The tax imposed by section 15
174	174	2501 for each calendar year shall be an amount 16
175	175	equal to the excess of— 17
176	176	‘‘(A) a tentative tax, computed under para-18
177	177	graph (2), on the aggregate sum of the taxable 19
178	178	gifts for such calendar year and for each of the 20
179	179	preceding calendar periods, over 21
180	180	‘‘(B) a tentative tax, computed under para-22
181	181	graph (2), on the aggregate sum of the taxable 23
182	182	gifts for each of the preceding calendar periods. 24
183	183	‘‘(2) R
184	184	ATE SCHEDULE.— 25
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187	187	•HR 1301 IH
188	188	‘‘If the amount with respect
189	189	to which the tentative tax
190	190	to be computed is: The tentative tax is:
191	191	Not over $10,000 .......................... 18% of such amount.
192	192	Over $10,000 but not over
193	193	$20,000.
194	194	$1,800, plus 20% of the excess over
195	195	$10,000.
196	196	Over $20,000 but not over
197	197	$40,000.
198	198	$3,800, plus 22% of the excess over
199	199	$20,000.
200	200	Over $40,000 but not over
201	201	$60,000.
202	202	$8,200, plus 24% of the excess over
203	203	$40,000.
204	204	Over $60,000 but not over
205	205	$80,000.
206	206	$13,000, plus 26% of the excess over
207	207	$60,000.
208	208	Over $80,000 but not over
209	209	$100,000.
210	210	$18,200, plus 28% of the excess over
211	211	$80,000.
212	212	Over $100,000 but not over
213	213	$150,000.
214	214	$23,800, plus 30% of the excess over
215	215	$100,000.
216	216	Over $150,000 but not over
217	217	$250,000.
218	218	$38,800, plus 32% of the excess of
219	219	$150,000.
220	220	Over $250,000 but not over
221	221	$500,000.
222	222	$70,800, plus 34% of the excess over
223	223	$250,000.
224	224	Over $500,000 ............................... $155,800, plus 35% of the excess of
225	225	$500,000.’’.
226	226	(2) LIFETIME GIFT EXEMPTION .— 1
227	227	(A) I
228	228	N GENERAL.—Paragraph (1) of sec-2
229	229	tion 2505(a) of the Internal Revenue Code of 3
230	230	1986 is amended to read as follows: 4
231	231	‘‘(1) the amount of the tentative tax which 5
232	232	would be determined under the rate schedule set 6
233	233	forth in section 2502(a)(2) if the amount with re-7
234	234	spect to which such tentative tax is to be computed 8
235	235	were $10,000,000, reduced by’’. 9
236	236	(B) I
237	237	NFLATION ADJUSTMENT .—Section 10
238	238	2505 of such Code is amended by adding at the 11
239	239	end the following new subsection: 12
240	240	‘‘(d) I
241	241	NFLATIONADJUSTMENT.— 13
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244	244	•HR 1301 IH
245	245	‘‘(1) IN GENERAL.—In the case of any calendar 1
246	246	year after 2011, the dollar amount in subsection 2
247	247	(a)(1) shall be increased by an amount equal to— 3
248	248	‘‘(A) such dollar amount, multiplied by 4
249	249	‘‘(B) the cost-of-living adjustment deter-5
250	250	mined under section 1(f)(3) for such calendar 6
251	251	year by substituting ‘calendar year 2010’ for 7
252	252	‘calendar year 2016’ in subparagraph (A)(ii) 8
253	253	thereof. 9
254	254	‘‘(2) R
255	255	OUNDING.—If any amount as adjusted 10
256	256	under paragraph (1) is not a multiple of $10,000, 11
257	257	such amount shall be rounded to the nearest mul-12
258	258	tiple of $10,000.’’. 13
259	259	(3) O
260	260	THER CONFORMING AMENDMENTS RE -14
261	261	LATED TO GIFT TAX.— 15
262	262	(A) The heading for section 2505 of such 16
263	263	Code is amended by striking ‘‘
264	264	UNIFIED’’. 17
265	265	(B) The item in the table of sections for 18
266	266	subchapter A of chapter 12 of such Code relat-19
267	267	ing to section 2505 is amended to read as fol-20
268	268	lows: 21
269	269	‘‘Sec. 2505. Credit against gift tax.’’.
270	270	(C) Section 2801(a)(1) of such Code is 22
271	271	amended by striking ‘‘section 2001(c) as in ef-23
272	272	fect on the date of such receipt’’ and inserting 24
273	273	‘‘section 2502(a)(2)’’. 25
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276	276	•HR 1301 IH
277	277	(d) EFFECTIVEDATE.—The amendments made by 1
278	278	this section shall apply to estates of decedents dying, gen-2
279	279	eration-skipping transfers, and gifts made, on or after the 3
280	280	date of the enactment of this Act. 4
281	281	(e) T
282	282	RANSITIONRULE.— 5
283	283	(1) I
284	284	N GENERAL.—For purposes of applying 6
285	285	sections 1015(d), 2502, and 2505 of the Internal 7
286	286	Revenue Code of 1986, the calendar year in which 8
287	287	this Act is enacted shall be treated as two separate 9
288	288	calendar years one of which ends on the day before 10
289	289	the date of the enactment of this Act and the other 11
290	290	of which begins on such date of enactment. 12
291	291	(2) A
292	292	PPLICATION OF SECTION 2504(b).—For 13
293	293	purposes of applying section 2504(b) of the Internal 14
294	294	Revenue Code of 1986, the calendar year in which 15
295	295	this Act is enacted shall be treated as one preceding 16
296	296	calendar period. 17
297	297	Æ
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