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Repeal of Estate Tax Proposed Early in the 118th Congress

H.R. 338, 118th Cong., 1st Sess. (Jan. 13, 2023)

In the first month of the 118th Congress, Rep. Robert Latta (R-Ohio) has introduced H.R. 338, 118th Cong., 1st Sess. (Jan. 13, 2023), the "Permanently Repeal the Estate Tax Act of 2023," a bill that would repeal the federal estate tax but retain the basis step-up at death under Code Sec. 1014. The bill does not repeal the gift tax, the generation-skipping transfer tax, or the special valuation rules of Chapter 14.

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