WASHINGTON — U.S. Sen. John Thune (R-S.D.), ranking member of the Subcommittee on Taxation and Internal Revenue Service Oversight, today led 40 of his Senate colleagues, including Republican Leader Mitch McConnell (R-Ky.) and Mike Crapo (R-Idaho), ranking member of the Senate Finance Committee, in reintroducing legislation to permanently repeal the federal estate tax, more commonly known as the death tax. The Death Tax Repeal Act would end this purely punitive tax that has the potential to ...| U.S. Senator John Thune
The push by Congressional Republicans to make the provisions of the 2017 Tax Cuts and Jobs Act permanent would cost nearly $300 billion in the first year and deliver the bulk of the tax benefits to the wealthiest Americans.| ITEP
We estimate that Senator Sanders’ estate tax proposal would raise an additional $267 billion in revenue over the 10-year budget window, 2021 - 2030.| Penn Wharton Budget Model
More than one in four dollars of wealth in the U.S. is held by a tiny fraction of households with net worth over $30 million. Nationally, we estimate that wealth over $30 million per household will reach $26 trillion in 2022 with roughly one-fifth of that amount ($4.5 trillion) held by billionaires.| ITEP
