To amend the Internal Revenue Code of 1986 to increase the unified credit against estate and gift taxes to an exclusion equivalent of $10,000,000 and to provide for an inflation adjustment of such amount.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to phase-in an increase in the unified credit against estate and gift taxes to an exclusion amount of $10 million for calendar year 2003 and following years. Provides for an inflation adjustment to such exclusion.…