Estate Tax Reduction Act of 2001

1/17/2023, 12:18 AM
Estate Tax Reduction Act of 2001 - Amends the Internal Revenue Code to: (1) reduce estate tax rates; (2) repeal the phaseout of graduated rates; and (3) increase the unified credit to $2.5 million, with an inflation adjustment.
Congress
107
Number
HR - 1277
Introduced on
2001-03-28
# Amendments
0
Sponsors
+5

Variations and Revisions

3/28/2001
Text
PDF

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Estate Tax Reduction Act of 2001 - Amends the Internal Revenue Code to: (1) reduce estate tax rates; (2) repeal the phaseout of graduated rates; and (3) increase the unified credit to $2.5 million, with an inflation adjustment.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $2,500,000 exclusion and to provide an inflation adjustment of such amount, and for other purposes.
Policy Areas
Taxation
Potential Impact
Commerce•
Cost of living adjustments•
Economics and Public Finance•
Estate tax•
Indexing (Economic policy)•
Tax credits•
Tax cuts•
Tax rates

Comments

Related

Member:  Nita M. Lowey
Bill Update Alert:  Economic Growth and Tax Relief Reconciliation Act of 2001

Recent Activity

Latest Summary11/28/2006
Estate Tax Reduction Act of 2001 - Amends the Internal Revenue Code to: (1) reduce estate tax rates; (2) repeal the phaseout of graduated rates; and (3) increase the unified credit to $2.5 million, with an inflation adjustment.
Latest Action8/13/2001
See H.R.1836.