H.R. 3886 · 115th Congress
To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate and gift tax and…
Full title
To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate and gift tax and to simplify the estate and gift tax rates.
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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ScottSponsorNo cosponsors.
This bill amends the Internal Revenue Code, with respect to the estate and gift tax, to: (1) increase the basic exclusion amount from $5 million to $50 million; (2) modify the required inflation adjustment for the basic exclusion amount; and (3) replace the existing rate schedule, which ranges from 18% to 40% depending on the amount of the estate or gift,…
What it does: CRS summary · Introduced in House · Sep 28, 2017
This bill amends the Internal Revenue Code, with respect to the estate and gift tax, to: (1) increase the basic exclusion amount from $5 million to $50 million; (2) modify the required inflation adjustment for the basic exclusion amount; and (3) replace the existing rate schedule, which ranges from 18% to 40% depending on the amount of the estate or gift, with a single 20% rate.
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 increase the unified credit against the estate and gift tax and to simplify the estate and gift tax rates.
Latest action (Sep 28, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Sep 28, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.