“I got rid of the estate tax on farms and small businesses.”
Donald TrumpEconomy
CredMeter Fact Check Verdict
Fact Check Performed On October 11, 2026
The federal estate tax was not eliminated. The One Big Beautiful Bill Act raised the basic exclusion amount to $15 million per person for 2026 and made it permanent, but the 40% top rate on amounts above the exemption remains in the Internal Revenue Code.
Evidence sources
3 references- 01Internal Revenue Service (opens in a new tab)irs.govOfficial RecordRead original source (opens in a new tab)
- 02The Reed Corporation (opens in a new tab)reedcorp.taxReedcorpSEC/Regulatory FilingRead original source (opens in a new tab)
- 03Avinci Wealth (opens in a new tab)avinciwealth.comAvinciwealthArticleRead original source (opens in a new tab)
