Bill117th CongressFiled May 13, 2021Taxation
S. 1627
Estate Tax Rate Reduction Act
Bill journey · stage 2 of 5
Under committee review
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CommitteeComm.
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Both ChambersBoth
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What it doesSummary introduced in senate (May 13, 2021)
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 happenedMay 13, 2021
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Cotton, Tom [R-AR](R-AR)Sponsor
2 cosponsors2 R
2cosponsors1committees2actions1related bills1subjects
- Introduced in SenateMay 13, 2021
- May 13, 2021IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - May 13, 2021IntroReferral10000
Introduced in Senate