On Tuesday (1/24/17), Rep. Kristi Noem (R-SD) and lead co-sponsor Rep. Sanford Bishop (D-GA) introduced legislation (H.R. 631) in the House of Representatives that would fully repeal the estate tax in the 115th Congress. In introducing her bill, Noem emphasized the tax’s harmful impact on families, with Noem recounting how her family received a notice from the IRS after her father died in a farm accident. “No family should have to go through what ours did, so I’m committed to seeing this tragedy tax finally repealed.” This legislation was accompanied by companion legislation (S. 205) in the Senate introduced by Senator John Thune (R-SD).
While estate tax reform will eventually be addressed through a comprehensive tax reform package, the introduction of Noem and Thune’s legislation is an important signal that estate tax repeal is a top priority in Congress, and thus continues to build momentum for the repeal movement. PATG has played a pivotal role in getting this legislation introduced and continues to work with key lawmakers on the drafting of final repeal language to be included in tax reform this year.