HR 5223 · 96th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the unified credit against estate and gift taxes to $70,800, and to provide an inflation adjustment of such amount.

Introduced 1979-09-10· Sponsored by Rep. Tauke, Thomas Joseph [R-IA-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1979-09-10)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the unified tax credit for both estate and gift taxes from $47,000 to $70,800 over a five-year phase-in period, with annual adjustments for each succeeding year after such period.…

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