HOUSE 3178117th CongressReferred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Estate Tax Rate Reduction Act
- Last Action
- 5/13/2021
Actions
- 2021-05-13Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-05-13Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-05-13Introduced in House
- 2021-05-13Introduced in House
CRS Summary
As of 2021-05-13 (00)
Estate Tax Rate Reduction Act
This bill reduces the rate for the tax on estates, gifts, and generation-skipping transfers to 20%. (Under current law, the highest rate is 40%.)
The bill also exempts the budgetary effects of the tax reduction from the Pay-As-You-Go (PAYGO) rules established by the Statutory Pay-As-You-Go Act of 2010 and the FY2018 congressional budget resolution.
Cosponsors (2)
- Henry Cuellar (D-TX)
- Charles Fleischmann (R-TN)
Subjects
- Transfer and inheritance taxes
Sourced from Congress.gov (public domain).
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