H.R. 7993 · 118th Congress
Estate Tax Rate Reduction Act
- Stage
- In committee
- Sponsor
- Jodey Arrington
- Introduced
- 2024-04-15
- Latest action
- 2024-04-15 · Introduced in House
Summary
Estate Tax Rate Reduction Act
This bill 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.