Search Results: keywords:"death tax repeal act"

  • H. R. 7035 — To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes.
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    Status:Introduced in House
    Words:2,042

    H.R. 7035, also known as the "Death Tax Repeal Act," proposes to eliminate the estate tax and the generation-skipping transfer tax, which are taxes imposed on transfers of wealth at death and to grandchildren, respectively. The bill aims to change the Internal Revenue Code of...

    Simple Explanation

    H.R. 7035 wants to stop certain taxes when people give money or things to their family after they pass away, making it easier for families to keep their stuff without paying extra. But, some people worry this might not be fair because it could let rich people keep getting richer without sharing.

  • H. R. 1301 — To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes.
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    Status:Introduced in House
    Words:2,128

    H.R. 1301, also known as the "Death Tax Repeal Act," aims to change the Internal Revenue Code of 1986 by eliminating the estate tax and the generation-skipping transfer tax. It proposes that these taxes should no longer apply to estates of people who die, or to...

    Simple Explanation

    H.R. 1301 wants to stop some taxes, called estate and generation-skipping transfer taxes, so when people pass away, their families can keep more of their money instead of giving it to the government.