Senator John Thune introduced S.215 with 28 Cosponsors; a bill that will repeal the estate and GST tax but NOT the Gift tax and will maintain step up in basis; so, the same bill language he has introduced before.
While we continue to remind legislators that the gift tax must also be repealed, they tend to just introduce the same legislation repeatedly and hope “it will be worked out in Committee”.
This bill has been referred to Senate Finance Committee and we will meet with Senator Thune’s new tax staff on 2/5 in DC.
If you have questions about the estate tax, how to repeal it, or how to get in touch with your congressional representatives, please contact us.Policy and Taxation Group, a 501(c)(4) organization, is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.