Promise: Eliminate the Federal Estate Tax (a.k.a. "Death Tax")
- Koen Van Duyse
- Apr 1
- 1 min read
When: Repeated in 2024 Campaign Events and Policy Memos
Category: Estate & Wealth Transfer Taxes
Target Group: High-Net-Worth Families, Small Business Owners, Real Estate Investors
📊 Status:💬 Still a Promise📜 No active legislation yet in 2025, but Republican lawmakers are signaling support
🧾 Details: Trump has long pledged to fully eliminate the federal estate tax, which currently applies to estates over $13.6 million per individual (or $27.2 million for married couples, 2024 figures). While the exemption is already high—impacting less than 0.1% of estates nationwide—Trump’s plan would remove it entirely.
🌴 Impact on Californians (esp. North San Diego):
High-Net-Worth Relief: Families with substantial assets in real estate, businesses, or investments (common in areas like Rancho Santa Fe, La Jolla, and parts of Carlsbad) could pass down wealth tax-free.
Small Business Continuity: Multi-generational businesses (like vineyards, family real estate holdings, or local enterprises) could transfer ownership without forced sales to cover tax bills.
Minimal Impact for Most: The vast majority of families in North San Diego won’t benefit directly, since they’re already under the exemption threshold.
Revenue Loss Concerns: Estate taxes generate billions annually. Eliminating it could shift the federal tax burden elsewhere—possibly impacting deductions or services relied on in California.
📚 Sources:
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