H.R. 7993 · 118th Congress · House

Estate Tax Rate Reduction Act

Active· Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by t…
Introduced
Apr 15, 24
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive 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. 

Action Timeline

4
  1. APR 15, 2024•IntroReferral

    Introduced in House

  2. APR 15, 2024•IntroReferral

    Introduced in House

  3. APR 15, 2024•IntroReferral

    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  4. APR 15, 2024•IntroReferral

    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Committees

2

Budget Committee

hsbu00

Referred: Apr 15, 2024

Active

Ways and Means Committee

hswm00

Referred: Apr 15, 2024

Active