Estate Tax Rate Reduction Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 4
- Latest action
- Jan 22, 2025
What it does
The Estate Tax Rate Reduction Act would amend the Internal Revenue Code to reduce the federal estate, gift, and generation-skipping transfer tax rate from the current graduated rates to a flat 20 percent. The change would apply to estates of individuals who die, gifts made, and generation-skipping transfers occurring after December 31, 2024. The bill also includes conforming amendments to related tax provisions to reflect the new flat rate and specifies that its budgetary effects will not be recorded on certain PAYGO scorecards.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.