Bill115th CongressFiled Sep 28, 2017Taxation
H.R. 3886
To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate and gift tax and to simplify the estate and gift tax rates.
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Sep 28, 2017)
This bill amends the Internal Revenue Code, with respect to the estate and gift tax, to: (1) increase the basic exclusion amount from $5 million to $50 million; (2) modify the required inflation adjustment for the basic exclusion amount; and (3) replace the existing rate schedule, which ranges from 18% to 40% depending on the amount of the estate or gift, with a single 20% rate.
What just happenedSep 28, 2017
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Scott, Austin [R-GA-8](R-GA)Sponsor
1committees3actions2subjects
- Introduced in HouseSep 28, 2017
- Sep 28, 2017IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Sep 28, 2017IntroReferralIntro-H
Introduced in House
- Sep 28, 2017IntroReferral1000
Introduced in House