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Estate Tax Reduction Act of 2001

1/17/2023, 12:18 AM

Congressional Summary of HR 1277

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.

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Current Status of Bill HR 1277

Bill HR 1277 is currently in the status of Bill Introduced since March 28, 2001. Bill HR 1277 was introduced during Congress 107 and was introduced to the House on March 28, 2001.  Bill HR 1277's most recent activity was See H.R.1836. as of August 13, 2001

Bipartisan Support of Bill HR 1277

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 1277

Primary Policy Focus

Taxation

Potential Impact Areas

- Commerce
- Cost of living adjustments
- Economics and Public Finance
- Estate tax
- Indexing (Economic policy)
- Tax credits
- Tax cuts
- Tax rates

Alternate Title(s) of Bill HR 1277

Estate Tax Reduction Act of 2001
To 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.
Estate Tax Reduction Act of 2001

Comments

Sponsors and Cosponsors of HR 1277

Nita M. Lowey
Nita M. Lowey
New YorkDemocrat

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