Docket
118th Congress · HOUSE BILLBILL

H.R. 7993 — Estate Tax Rate Reduction Act

“To amend the Internal Revenue Code of 1986 to reduce the rate of tax on estates, gifts, and generation-skipping transfers.”

Taxation
Introduced Apr 15, 2024
Last action Apr 15, 2024
Pipeline · Bill → Law
Step 1
Introduced
Apr 15, 2024
Step 2
Referred
Apr 15, 2024
Budget · Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

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. 

Provisions · 2 sectionsIntroduced in House
Timeline · 3 actions
Apr 15, 2024
Introduced in House
Apr 15, 2024
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.
Apr 15, 2024
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.