Estate Tax Reduction and Simplification Act of 2001

1/17/2023, 12:18 AM
Estate Tax Reduction and Simplification Act of 2001 - Amends the Internal Revenue Code to increase the unified estate tax credit deduction to $3 million. Provides for inflation adjustments.

Repeals the estate tax deduction for family-owned business interests.

Congress
107
Number
HR - 1285
Introduced on
2001-03-28
# Amendments
0
Sponsors
+5
Cosponsors
+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 and Simplification Act of 2001 - Amends the Internal Revenue Code to increase the unified estate tax credit deduction to $3 million. Provides for inflation adjustments.

Repeals the estate tax deduction for family-owned business interests.

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to reduce and simplify the estate tax.
Policy Areas
Taxation
Potential Impact
Agriculture and Food•
Commerce•
Cost of living adjustments•
Economics and Public Finance•
Estate tax•
Families•
Family enterprises•
Family farms•
Gift tax•
Indexing (Economic policy)•
Tax credits•
Tax exclusion

Comments

Related

Member:  Dennis Moore
Member:  Maurice D. Hinchey
Member:  Joseph Crowley
Member:  Tim Holden

Recent Activity

Latest Summary11/28/2006
Estate Tax Reduction and Simplification Act of 2001 - Amends the Internal Revenue Code to increase the unified estate tax credit deduction to $3 million. Provides for inflation adjustments.

Repeals the estate tax deduction for family-owned business...

Latest Action8/13/2001
See H.R.1836.