HR 2480 · 108th Congress · Taxation

To amend the Internal Revenue Code of 1986 to reduce estate and gift tax rates to 30 percent, to increase the exclusion equivalent of the unified credit to $10,000,000, and to increase the annual gift tax exclusion to $50,000.

Introduced 2003-06-16· Sponsored by Rep. Leach, James A. [R-IA-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2003-06-16)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to: (1) reduce estate and gift tax rates to 30 percent; (2) increase the exclusion equivalent of the unified credit to $10 million; and (3) increase the annual gift tax exclusion to $50,000.…

Summarized by Claude AI · Non-partisan · For informational purposes only