News Release

Trump and Republicans Propose Abolishing the Estate Tax

JOSH HOXIE, josh at ips-dc.org@JoshHoxie

Co-editor of Inequality.org, Hoxie said today: “Part of the Trump tax proposal is abolishing the estate tax, only paid by households with wealth over $11 million and individuals over $5.5 million. Trump claims that estate tax repeal will help farmers and small businesses. Estate tax repeal will worsen inequality and cost over $260 billion over the next decade.”

Hoxie just wrote the piece “Trump Tax Plan Would Widen Racial Wealth Divide,” in the Las Vegas Sun, which states: “Perhaps more insidious is Trump’s plan to eliminate the federal estate tax, also known as the inheritance tax. This levy applies exclusively to the wealthiest 0.2 percent of households and is intended to curtail the growing concentration of wealth in families like, say, the Trumps.”

CHE-CHING HUANG, huang at cbpp.org@dashching

Huang is with the Center on Budget and Policy Priorities, and co-wrote “Ten Facts You Should Know About the Estate Tax,” which states: “It is appropriate that people who have prospered the most in this society help to preserve it for future generations through tax revenues that derive from their estates.”
chuck at ips-dc.org, @Chuck99to1
Collins is co-author with Bill Gates Sr. of Wealth and Our Commonwealth: The Case for Defending the Estate Tax. He’s a senior scholar at the Institute for Policy Studies and a co-editor of Inequality.org.

He recently wrote “Limos, Not Tractors: Republicans are Using Farmers To Justify Estate Tax Repeal” in U.S. News & World Report, which states: “Republicans have offered a strange populist fig leaf to justify repealing the estate tax: images of America’s farmers and ranchers.”

Collins also recently wrote “Indiana Farmer Complaining about Estate Taxes with Trump Cashed $3.3 Million in Farmer Subsidy Checks.”