Estate Tax Rate Reduction Act
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2021
Committee Review
Floor Vote
President
Introduced May 13, 2021
Last action May 13, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
May 13, 2021
Committee
Read twice and referred to the Committee on Finance.
upper
May 13, 2021
Introduced
Introduced in Senate
upper
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Tom Cotton
RRepublican
Co
John Boozman
RRepublican
Co
Joni Ernst
RRepublican
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