Estate Tax Reduction and Simplification Act of 2001

1/17/2023, 12:18 AM

Congressional Summary of HR 1285

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.

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Current Status of Bill HR 1285

Bill HR 1285 is currently in the status of Bill Introduced since March 28, 2001. Bill HR 1285 was introduced during Congress 107 and was introduced to the House on March 28, 2001.  Bill HR 1285's most recent activity was See H.R.1836. as of August 13, 2001

Bipartisan Support of Bill HR 1285

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
3
Democrat Cosponsors
3
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 1285

Primary Policy Focus

Taxation

Potential Impact Areas

Agriculture and FoodCommerceCost of living adjustmentsEconomics and Public FinanceEstate taxFamiliesFamily enterprisesFamily farmsGift taxIndexing (Economic policy)Tax creditsTax exclusion

Alternate Title(s) of Bill HR 1285

Estate Tax Reduction and Simplification Act of 2001To amend the Internal Revenue Code of 1986 to reduce and simplify the estate tax.Estate Tax Reduction and Simplification Act of 2001
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Comments

Sponsors and Cosponsors of HR 1285

Dennis Moore
Dennis Moore
Kansas(Democrat)
Tim Holden
Tim Holden
Pennsylvania(Independent)
Maurice D. Hinchey
Maurice D. Hinchey
New York(Democrat)
Joseph Crowley
Joseph Crowley
New York(Democrat)

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