To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax, increase the estate tax unified credit to an exclusion equivalent of $4,000,000, reduce the maximum estate tax rate to 40 percent, and for other purposes.
Latest action · Apr 21, 2009 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 21, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 eliminating the estate tax and related carryover basis provisions (thus restoring such tax after 2009).
Amends the Internal Revenue Code to: (1) increase the estate tax unified credit to $4 million; and (2) reduce the maximum estate tax rate to 40%.
Cosponsors 1
Members who signed on, in the order they did. All signed on Oct 8, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-GA | Jim Marshall | Oct 8, 2009 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Apr 21, 2009 |
Actions 2
Everything that happened, newest first.
- Apr 21, 2009Introduced in House
- Apr 21, 2009Referred to the House Committee on Ways and Means.
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax, increase the estate tax unified credit to an exclusion equivalent of $4,000,000, reduce the maximum estate tax rate to 40 percent, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Apr 21, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
