Haven't looked here at posts for a few days, so getting caught up a bit here.
The impact of elimination of stretch provisions (or limiting them to 5 or 10 years) will have an enormous impact on my estate planning.
With the current law, with an assumption of a 5% return and an assumption of my death at 90, my child would inherit over $2M. DC's starting RMD would be about $61K, increasing each year (but offset by continued growth). Assuming DC has a middle income lifestyle (let's say DC makes $60K adjusted for inflation), that $61k extra would be at the 22% federal marginal rate.
Under the new (to be passed law), DC would have to cash out the beneficiary IRA in 10 years (house) or even worse 5 years (senate). Assuming the house plan, that would be over $200K extra income per year, which would push DC to the 35% marginal federal tax rate.
I'm estimating this change will cost my heirs over $300K in additional taxes, which while I will be dead I still consider NOT GOOD.