S 436 · 94th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the estate tax exemption and the gift tax exclusion.

Introduced 1975-01-28· Sponsored by Sen. Young, Milton R. [R-ND]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Finance.(1975-01-28)

Plain Language Summary

[AI summary unavailable — showing source text] Increases the estate tax exemption under the Internal Revenue Code from $60,000 to $200,000. Increases the gift tax exclusion from $3,000 to $10,000. Increases the specific exemption allowable in computing the amount of taxable gifts for a calendar quarter from $30,000 to $100,000.…

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