House Republicans urge leaders to support estate tax repeal

House Republicans urge leaders to support estate tax repeal
© Camille Fine

Rep. Warren DavidsonWarren Earl DavidsonHouse conservatives criticize media, not Trump, for Putin furor Trump vows to stand with House GOP '1,000 percent' on immigration Key conservative presses for shield law after seizure of NYT reporter’s records MORE (R-Ohio) on Thursday sent a letter along with dozens of his colleagues to House leaders calling on them to support a full repeal of the estate tax in any final tax package.

Davidson, along with 53 other House Republicans, asked Speaker Paul RyanPaul Davis RyanDems unveil slate of measures to ratchet up pressure on Russia National Dems make play in Ohio special election Trump vows to hold second meeting with Putin MORE (R-Wis.) and House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradySenate panel advances Trump IRS nominee GOP looks to blunt Dems’ attacks on rising premiums Meet the woman who is Trump's new emissary to Capitol Hill MORE (R-Texas) and other GOP leaders to reach a deal in the House–Senate conference that nixes the tax.

The House-passed tax measure increases the estate tax exemption to $10 million, indexed for inflation, with repeal after six years, while the Senate doubles the exemption but doesn't abolish the tax.

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"We urge you to seek an agreement in conference that achieves repeal of the hated and economically destructive death tax," the letter says.

The letter touts broad support by the House, White House and taxpayers in their push for a repeal, which they say is at odds with the Senate-passed version. 

“We are concerned about the current Senate plan, which falls short of the long term Republican goal by providing only temporary relief while leaving the death tax in place," the letter says. 

The lawmakers wrote that they are hearing from their constituents who are concerned that the Republican tax plan won't end the estate tax despite promises from President TrumpDonald John TrumpNFL freezes policy barring players from protesting during anthem McConnell spokesman on Putin visit: 'There is no invitation from Congress' Petition urges University of Virginia not to hire Marc Short MORE to repeal it.

House and Senate lawmakers are expected to meet publicly next week to kick of the conference committee's work. Most of the negotiating will likely take place behind closed doors.

This year, the estate tax applies to inheritances more than $5.49 million per individual, meaning a person can leave their heirs up to that amount without facing a 40 percent tax.