Death Tax Repeal Act of 2015
Sponsor: KEVIN BRADY (R-TX)
(Sec. 2) This bill amends the Internal Revenue Code to repeal the estate and generation-skipping transfer taxes for estates of decedents dying or for transfers made on or after the enactment date of this Act. In the case of assets placed in a qualified domestic trust by a decedent who dies prior to the enactment of this Act, the current estate tax will not apply to: (1) distributions from such trust before the death of a surviving spouse made more than 10 years after the enactment date of this Act, and (2) assets remaining in such trust upon the death of the surviving spouse. (Sec. 3) This section revises gift tax rates to lower the top rate to 35% and deems a transfer in trust to be a taxable gift unless the trust is treated as wholly-owned by the donor or the donor's spouse.
Taxation Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 3.8% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Nay | Won | 232 | 53.3% |
| Yea | Lost | 186 | 42.9% |
| Not represented on this question | No position taken | 0 | 3.8% |