H.R. 4996 · 114th Congress
Sensible Estate Tax Act of 2016
- Stage
- In committee
- Sponsor
- Sander Levin
- Introduced
- 2016-04-20
- Latest action
- 2016-04-20 · Introduced in House
Summary
Sensible Estate Tax Act of 2016
This bill amends the Internal Revenue Code to modify the estate and gift taxes. For the estate tax, the bill increases the rates and decreases the amount that is excluded from the tax. For the gift tax, the bill establishes a separate lifetime exclusion amount. (Under current law, the estate and gift taxes share a unified exclusion amount.)