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House Republicans urge leaders to support estate tax repeal

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

Rep. Warren DavidsonWarren Earl DavidsonOn The Money: 0B more in Trump tariffs kick in | China calls off trade talks | CEO confidence slips over tariffs | GOP to move spending bill over Trump concerns | Behind the scenes look at how the GOP tax law passed GOP set to move 4B spending bill despite Trump criticisms Freedom Caucus ponders weakened future in minority 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 RyanThe Memo: Saudi storm darkens for Trump The Hill's 12:30 Report — Mnuchin won't attend Saudi conference | Pompeo advises giving Saudis 'few more days' to investigate | Trump threatens military action over caravan The Hill's Morning Report — Presented by the Coalition for Affordable Prescription Drugs — Health care a top policy message in fall campaigns MORE (R-Wis.) and House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyOvernight Health Care — Presented by the Coalition for Affordable Prescription Drugs — Some ObamaCare premiums to decrease next year | Sanders hits back at Trump over 'Medicare for all' | Panel to investigate rising maternal mortality rates House committee to investigate rising maternal mortality rates How the Trump tax law passed: The final stretch 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 TrumpThe Guardian slams Trump over comments about assault on reporter Five takeaways from the first North Dakota Senate debate Watchdog org: Tillerson used million in taxpayer funds to fly throughout US 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.