Senate Majority Leader Pushes Estate Tax Repeal in GOP Bill Talks

[progree]

7. And that's for an individual. A married couple effectively get double that (nearly $28 MILLION)

exemption. When the first spouse dies, the surviving spouse has to do some paperwork to claim the additional $14 million. Or have something in place already, I don't know the details, but my parents took advantage of that (or actually their children were advantaged by that, which included me) -- that was way back in the Clinton era when the estate tax threshold was below a million$.

Google: estate tax exemption for a couple in 2025

Note: these numbers go down by half -- to $7 million / $14 million in round numbers -- in 2026 and after -- unless Congress renews the Trump (TCJA) 2017 tax cuts. I'm sure they will do whatever it takes to keep it at today's levels + the automatic inflation adjust. Or raise it even further if they can (or get rid of estate taxes entirely)