HR 7993 · 118th Congress · Taxation

Estate Tax Rate Reduction Act

Introduced 2024-04-15· Sponsored by Rep. Arrington, Jodey C. [R-TX-19]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: 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.(2024-04-15)

Plain Language Summary

[AI summary unavailable — showing source text] 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. …

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

Cosponsors (1)

1 Democrat
Rep. Bishop, Sanford D. [D-GA-2]GA