Bill115th CongressFiled Nov 15, 2018Taxation
S. 3638
Estate Tax Rate Reduction Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in senate (Nov 15, 2018)
Estate Tax Rate Reduction Act
This bill amends the Internal Revenue Code to reduce 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.
What just happenedNov 15, 2018
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Kyl, Jon [R-AZ](R-AZ)Sponsor
4 cosponsors4 R
4cosponsors1committees2actions1subjects
- Introduced in SenateNov 15, 2018
- Nov 15, 2018IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Nov 15, 2018IntroReferral10000
Introduced in Senate