Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
A key difference between the House and Senate tax bills that will have to be resolved this week is how they handle the estate tax, which is levied on a small number of multi-millionaires. The House repeals the tax after a few years, while the Senate raises the exemption.
Data: Center on Budget and Policy Priorities; Note: Estimates unavailable for Alaska, Delaware, Idaho, New Mexico, North Dakota, Utah and West Virginia; Chart: Axios Visuals
Sound smart: Many Republicans want to fully repeal the tax, but pushing for even more tax relief for the wealthiest people in America is a politically volatile position to take. Even if supporters try to push hard for full repeal behind the scenes, expect Democrats to be outraged.
The policy: Currently, estates worth more than $5.49 million (or $10.98 million when passed down from a deceased couple) are subject to a 40% tax. The House doubles the size of the estate tax exemption, then repeals the tax after 2024. The Senate doubles the exemption until the tax sunsets beginning in 2026.