April 17, 2015: House of Representatives Passes Bill to Repeal Estate Tax
White House Has Threatened a Veto
WASHINGTON — The U.S. House of Representatives voted to permanently repeal the estate tax, also known as the "death tax," passing H.R. 1105, the Death Tax Repeal Act of 2015, by a margin of 240-179. The bill, authored by Rep. Kevin Brady (R-Texas), would repeal the estate tax and the generation-skipping transfer (GST) tax for all future transfers.
Heating, Air-conditioning and Refrigeration Distributors International (HARDI) CEO Talbot Gee said, “HARDI is pleased that the House sees the long-term economic value in supporting small businesses by repealing this tax law. Repealing of the estate tax should be seen as a jobs bill. Those who continue to think such repeal is only a windfall for the rich will hopefully get to meet with HARDI member company employees during next month’s Fly-In to hear from those whose jobs and livelihoods are threatened by this double taxation. We hope our representatives in the Senate will now show the same support for our country’s small businesses and entrepreneurs.”
The House vote was primarily along party lines; 233 Republicans were joined by seven Democrats voting to repeal while 176 Democrats and three Republicans voted against the bill.
The bill now goes to the Senate, where it is believed there are not enough votes to overcome a Democratic filibuster. The White House has threatened to veto the bill.
Updated April 18