Rep. Andy Harris of Maryland has introduced legislation entitled Americans Standing for the Simplification of the Estate Tax which would, according to the bill’s author, streamline the estate tax process. One of the major proposed reforms is allowing an estate that would qualify for the tax to pay a yearly fee that would substitute for any death taxes that would otherwise be imposed. Support for the this bill appears to be strong as opposition groups to the estate tax have expressed support for the legislation even though they were prefer repeal. In any event, reform to the estate tax will become a political hot topic as leading candidates from both parties have expressed views ranging from outright repeal to making the tax higher and tougher. A version of the proposed legislation may be found here.
See, Estate tax simplification bill intro’d in House, Tire Business, September 22, 2015.
