Cut the estate and gift tax and make the higher exemption permanent
What the document says“The estate and gift tax should be reduced to no higher than 20 percent”
The chapter also asks that the 2017 law's temporary rise in the exemption, from $5.5 million to $12.9 million adjusted for inflation, be made permanent. It groups this with proposals to raise the business loss limitation to at least $500,000, allow full carryforward of net operating losses, and eliminate the net investment income surtax and the base erosion anti-abuse tax.
What the document actually says“The estate and gift tax should be reduced to no higher than 20 percent”
Cut the tax on money left when someone dies. Take it to 20 percent at most.
When a rich person dies, some of the estate is taxed. The book says that rate should fall. It also wants more of an estate left untaxed.
No action is recorded against this proposal. That is not evidence that none has been taken. See what the tracker does not yet cover.