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H.R. 8921 · House bill · 119th Congress
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This Act may be cited as the “Freedom from Taxes Act of 2026”.
(a) Elimination of transfer tax.— Section 5811(a)(1) of the Internal Revenue Code of 1986 is amended by striking “$200” and inserting “$0”.
(b) Elimination of making tax.— Section 5821(a)(1) of such Code is amended by striking “$200” and inserting “$0”.
(c) Exemption from excise tax.— Section 4182(a) of such Code is amended by striking “section 5811(a)(2)” and inserting “section 5811(a)”.
(d) Elimination of special tax.— Section 5801 of such Code is amended by adding at the end the following new subsection:
“(c) Time limit.— The tax imposed by this section shall not apply with respect to any year that begins after the date on which this subsection takes effect.”.
(e) Effective date.— The changes made by this section shall take effect on the first day of the first calendar quarter that begins after 90 days after the date of the enactment of this Act.