The folks at the Family Business Coalition reminded us of one of the most beneficial features of the Big Beautiful Tax Bill that kicked in at the start of the year.

As a result of Trump’s signature on that bill:

• • • the majority of family businesses across the country have been shielded from the death tax.
    • the enhanced exemption thresholds of $15 million for an individual and $30 million for a couple have been made permanent.
    • the exemption levels are indexed for inflation.

Recall that in 2001 the exempt amount was just $675,000 (about the cost of a medium-sized home) and the rate was 55%.

This is the least burdensome estate tax law in at least 25 years.  But for larger estates, the tax rate of 40% is still a menace.

And for what? The chart below shows that the tax does far more damage than the revenue generated, which is one percent of all federal receipts. The country would be much better off without it.