Details of Public Law 119-21, section 70106 , One Big Beautiful Bill Act

The provision makes permanent the estate and gift tax exemption amounts for estates of decedents dying and gifts made, established under the Tax Cuts and Jobs Act (Public Law 115-97, section 11061), made after December 31, 2025. This is accomplished by increasing the basic exclusion amount (IRC section 2010(c)(3)) from $5 million to $15 million.

The basic exclusion amount is indexed for inflation using the Chained Consumer Price Index for calendar years after 2026.