Bill Sponsor
House Bill 3886
115th Congress(2017-2018)
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.
Introduced
Introduced
Introduced in House on Sep 28, 2017
Overview
Text
Introduced
Sep 28, 2017
Latest Action
Sep 28, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3886
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Republican
Georgia
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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.

Text (1)
September 28, 2017
Actions (2)
09/28/2017
Referred to the House Committee on Ways and Means.
09/28/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:38:38 PM