Washington • Three Republican senators introduced a plan Monday to repeal the federal estate tax, moving to eliminate a tax on a small number of the wealthiest households just as leading Democrats ramp up calls to tax the richest Americans.
Senate Majority Leader Mitch McConnell, R-Ky., joined Sens. Chuck Grassley, R-Iowa, and John Thune, R-S.D., members of the Senate Finance Committee, in releasing legislation to permanently repeal the federal estate tax, which conservatives refer to as "the death tax."
The Republican tax law passed in 2017 already dramatically weakened the estate tax, allowing couples with $22 million to pass on their estates without facing the tax.