Indeed. The railing against it but the Republicans is wild, even though the exclusion is very high. Isn't inheritance unearned money, and it's possible to get over $5 million before taxes kick in.
A bit more than that, actually:
If an asset is left to a spouse or a federally recognized charity, the tax usually does not apply. In addition, up to a certain amount varying year by year can be given by an individual, before and/or upon their death, without incurring federal gift or estate taxes:[2] $5,340,000 for estates of persons dying in 2014,[3] $5,430,000 for estates of persons dying in 2015,[4] and $5,450,000 (effectively $10.90 million per married couple) for estates of persons dying in 2016.[5] Because of these exemptions, only the largest 0.2% of estates in the US will have to pay any estate tax.[6]
Source.