H.R. 2610 · 108th Congress
To amend the Internal Revenue Code of 1986 to restore the estate tax and repeal the carryover basis rule, to…
Full title
To amend the Internal Revenue Code of 1986 to restore the estate tax and repeal the carryover basis rule, to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, and to reduce the rate of the estate and gifts taxes to the generally applicable capital gains income tax rate.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PetersonSponsor11 cosponsors · 5 D, 6 R
R
Boehner
LB
D
Boswell
BC
D
Cramer
CDD
Dooley
GG
R
Gutknecht
RH
D
Hall
KH
R
Harris
BJR
Janklow
TL
R
Latham
KL
D
Lucas
MS
R
Simpson11 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Repeals subtitles A (Repeal of Estate and Generation-Skipping Transfer Taxes) and E (Carryover Basis at Death; Other Changes Taking Effect With Repeal) of title V (Estate, Gift, and Generation-Skipping Transfer Tax Provisions) of the Economic Growth and Tax Relief Reconciliation Act of 2001.
What it does: CRS summary · Introduced in House · Jun 26, 2003
Repeals subtitles A (Repeal of Estate and Generation-Skipping Transfer Taxes) and E (Carryover Basis at Death; Other Changes Taking Effect With Repeal) of title V (Estate, Gift, and Generation-Skipping Transfer Tax Provisions) of the Economic Growth and Tax Relief Reconciliation Act of 2001. Makes the sunset provisions of such Act inapplicable to the remainder of title V.
Reduces estate and gift tax rates to the lesser of 15 percent or the applicable capital gains rate.
Sets a unified estate and gift tax credit of $5 million.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to restore the estate tax and repeal the carryover basis rule, to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, and to reduce the rate of the estate and gifts taxes to the generally applicable capital gains income tax rate.
Latest action (Jun 26, 2003): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 26, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.