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As part of a larger tax initiative, President Trump has suggested a complete repeal of a contentious federal tax. How Trump's estate tax proposal might affect the wealthy Skip to main content
The estate tax is part of the federal unified gift and estate tax in the United States. The other part of the system, the gift tax, applies to transfers of property during a person's life. In addition to the federal government, 12 states tax the estate of the deceased.
At the end of 2025, significant tax cuts are expiring that were passed under the Trump administration through the Tax Cuts and Jobs Act (TCJA), often called the Trump tax cuts. Unless a new law is...
[155] [113] [156] If Trump's tax plan had been in place in 2005 (the one recent year in which his tax returns were leaked), he would have saved $31 million in taxes from the alternative minimum tax cut alone. [113] If the most recent estimate of the value of Trump's assets is correct, the repeal of the estate tax could save his family about $1. ...
Trump has suggested eliminating federal income taxes altogether. Reuters reports that on Feb. 13, a senior member of the Elon Musk-led Department of Government Efficiency (DOGE) visited the IRS ...
An analysis by The New York Times found that if Trump's tax plan had been in place in 2005 (the one recent year in which his tax returns were leaked), he would have saved $11 million in taxes. [203] The analysis also found that Trump would save $4.4 million on his eventual estate tax bill. [ 203 ]
Because any change to the SALT cap benefits only taxpayers who itemize their deductions and pay more than $10,000 in state and local income or sales and property taxes, letting the cap expire ...
The American Family Business Institute (AFBI) is a trade association of business owners, farmers, and entrepreneurs working for permanent repeal of the United States federal estate tax. The organization was founded in 1994. [1] AFBI has been the leader of the Washington, D.C. estate tax repeal coalition since 2004. During the 2005 estate tax ...