Bill116th CongressFiled Jan 17, 2019Taxation
S. 176
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 (Jan 17, 2019)
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.
What just happenedJan 17, 2019
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Cotton, Tom [R-AR](R-AR)Sponsor
4 cosponsors4 R
4cosponsors1committees2actions1related bills1subjects
- Introduced in SenateJan 17, 2019
- Jan 17, 2019IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jan 17, 2019IntroReferral10000
Introduced in Senate