Another Estate Tax Repeal Bill Is
Proposed
Many Republicans
have been urging a repeal of the Federal Estate Tax for years. During the time that we have a democratic
president, the chances of such a bill becoming law are remote. In fact, President Obama has set forth his
proposal to actually increase the tax by lowering the threshold for an estate
to be taxable. The latest bill was
sponsored by Rep. Kevin Brady (R-Tx). He introduced H.R. 1105, 114th Cong., 1st
Sess. (March 6, 2015), which would repeal the federal estate and GST taxes. The
bill already has 32 co-sponsors, and has been referred to the House Committee
on Ways and Means.
The upshot of this is that it is
unlikely that any changes will occur during this administration but if a
Republican takes the white house and the Republicans continue to control both
Houses, the possibility of absolute repeal may very well become a reality.
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