US SB176 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on January 17 2019 - 25% progression, died in committee
Action: 2019-01-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 17 2019 - 25% progression, died in committee
Action: 2019-01-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Estate Tax Rate Reduction Act
Sponsors
Sen. Tom Cotton [R-AR] | Sen. John Boozman [R-AR] | Sen. Roy Blunt [R-MO] | Sen. Joni Ernst [R-IA] |
Sen. Marsha Blackburn [R-TN] |
History
Date | Chamber | Action |
---|---|---|
2019-01-17 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB5652 (Same As) 2020-01-17 - 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.
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/176/all-info |
Text | https://www.congress.gov/116/bills/s176/BILLS-116s176is.pdf |