Arrington introduces bill to reduce death tax

House Budget Chairman Jodey Arrington (TX-19) introduced the Estate Tax Rate Reduction Act. This bipartisan legislation would cut the estate tax in half and provide tax relief to family-owned businesses.Currently, the estate tax – commonly known as the “Death Tax” is the highest tax rate in the U.S. Tax Code at 40%.This legislation would cut the rate for tax on estates, gifts, and ...