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
The federal estate tax has reached historic lows. In 2019, only 8 of every 10,000 people who died left an estate large enough to trigger the tax. Legislative changes under presidents of both parties have increased the basic exemption from the estate tax over the past 20 years. This has cut the share of adults leaving behind taxable estates down from more than 2 percent to well under 1 percent.| ITEP