The transfer tax has been modified numerous times since the 1970s to 2017. There have been many arguments for and against this tax. In 2018, the Tax Cuts and Jobs Act increased the gift and estate tax exemption significantly to $11.18 million per person which is almost double the original limit.

Discuss one of the changes that has occurred and why it was made. What was the political environment at the time? What was the economic environment at the time? What were other key factors that influenced the particular change?