Bloomberg by the Numbers: $13.1 Billion
Photograph by Andrew Harrer/Bloomberg
The Internal Revenue Service headquarters stands in Washington, D.C.
That’s how much the Internal Revenue Service collected in estate taxes in fiscal year 2013.
The Republican-led House may vote to repeal the tax before the Nov. 4 election. The House is set to begin a month-long recess after legislative activity today.
Rep. Dave Camp, the Michigan Republican who leads the tax-writing Ways and Means Committee, told Bloomberg’s Richard Rubin
that many new House members haven’t had a chance to vote on a straight repeal.
“It’s been a long time since we’ve had a vote on total repeal,” Camp said. “Obviously, I don’t believe death should be a taxable event.”