SENATE 1627117th CongressRead twice and referred to the Committee on Finance.
Estate Tax Rate Reduction Act
- Last Action
- 5/13/2021
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)
- Joni Ernst (R-IA)
- John Boozman (R-AR)
Subjects
- Transfer and inheritance taxes
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.