UNITED STATES HOUSE OF REPRESENTATIVES PASSES DEATH TAX REPEAL!

Posted on April, 17 2015, 18:46 by Aleks Zivic


On April 16th, the United States House of Representatives passed H.R. 1105 The Death Tax Repeal Act of 2015 along bi-partisan lines by a vote of 240-179. Seven Democrats voted in favor of repeal, while three Republicans voted against it. The Democrats who voted in favor of repeal were: orignial co-sponsor Sanford Bishop (D-GA), Rep. Brad Ashford (NE), Rep. Jim Costa (CA), Rep. Henry Cuellar (D), Rep. Collin Peterson (MN), Rep. Dutch Ruppersberger and Rep. Krysten Sinema (AZ). You may see the total vote count here. 

H.R. 1105 would completely repeal the Federal Estate Tax, Generation-Skipping Transfer Tax as well as retain stepped-up basis on capital gains. We would like to thank the original co-sponosrs of the bill, Rep. Kevin Brady (R-TX) and Rep. Sanford Bishop (D-GA) for being our Death Tax Repeal champions in the House. 

We now expect the Senate to consider a vote on the companion bill S.860 this summer. The lead sponsor of the bill is our friend Senator John Thune (R-SD).