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 punts on FISA, votes to begin negotiations with Senate House cancels planned Thursday vote on FISA Pelosi pulls vote on FISA bill after Trump veto threat 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 RyanTwitter joins Democrats to boost mail-in voting — here's why Lobbying world John Ratcliffe is the right choice for director of national intelligence — and for America MORE (R-Wis.) and House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyHouse Republican offers bill to create 'return to work bonus' Expanding tax credit for businesses retaining workers gains bipartisan support Former Texas Rep. Sam Johnson dies at 89 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 TrumpTwitter CEO: 'Not true' that removing Trump campaign video was illegal, as president has claimed Biden formally clinches Democratic presidential nomination Barr says he didn't give 'tactical' command to clear Lafayette protesters 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.