22. Department of the Treasury · Notable · Needs Congress
Make the 2017 estate tax exemption increase permanent
Printed page 697 22. Department of the Treasury
“The estate and gift tax should be reduced to no higher than 20 percent, and the 2017 tax bill's temporary increase in the exemption amount from $5.5 million to $12.9 million (adjusted for inflation) should be made permanent.”
What has happened
- Done
Section 70106 of Public Law 119-21 struck subparagraph (C) of section 2010(c)(3) — the 2025 sunset that made the 2017 increase temporary — and raised the basic exclusion amount from $5,000,000 to $15,000,000, re-indexed from calendar year 2025, for estates of decedents dying and gifts made after December 31, 2025. The 2017 increase is now permanent and larger, which is what this half of the Quote asked for.
Research log
What was searched, and what didn’t count as evidence
Research notes
Operative text: “Section 2010(c)(3) is amended— (1) in subparagraph (A) by striking $5,000,000'' and inserting $15,000,000” … and (3) by striking subparagraph (C).” Subparagraph (C) was the termination provision.
The other half of the same Quote — cutting the estate and gift tax rate to no higher than 20 percent — is #1931 and is not started.
- Action
- expand
- Object
- estate and gift tax exemption amount
- ID
- 1932