H. R. 631, Death Tax Repeal Act of 2017

Bill Summary:

This bill amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. The bill provides for an inflation adjustment to such exemption amount.

Bill Sponsor: Kristi L. Noem (R-SD)