Three GOP senators reintroduced legislation Monday to permanently repeal the federal estate tax.
Sens. John Thune, R-S.D., and Chuck Grassley, R-Iowa, chairman of the Senate Finance Committee, along with Senate Majority Leader Mitch McConnell, R-Ky., joined a dozen other Senate Republicans to introduce The Death Tax Repeal Act of 2019.
Thune, the original sponsor of the bill, led the Senate’s efforts to repeal the estate tax in the sweeping tax overhaul passed in 2017.
While the tax law did not repeal the estate tax, the law doubled the individual estate and gift tax exclusion to $10 million ($11.4 million in 2019 dollars) through 2025.
In reintroducing the bill, Thune said that “although we made great progress during the Tax Cuts and Jobs Act negotiations, the death tax still remains an onerous and unfair tax that punishes hardworking families.”