Democrats want to crack down on how wealthy Americans avoid taxes through trusts, previewing a debate to come around the estate tax in 2025.
A swath of tax cuts from the Republican-passed 2017 tax law expire at the end of 2025, including the boosted estate and gift tax exemption. Lawmakers from both sides of the aisle have said they see 2025 as a chance to address a broad set of tax issues, even those that aren’t sunsetting.
For Democrats, 2025 offers the opportunity to push a tax-the-rich agenda, which in part means more restrictions on trusts.
“It’s important that it’s ...