Estate Tax Rate Reduction Act

Bill Number

HR 3178

Introduced

May 13, 2021

Latest Action

Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subseque ...

Sponsor

Cosponsors

Topics

Taxation Transfer and inheritance taxes

Full Text

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Votes

Summary

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.

Actions

May 13, 2021

Referred 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.
May 13, 2021

Introduced in House

Amendments

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