Congress: 109th

Sponsor: Representative Peterson, Collin C. (05/18/2006)

Committees: House - Ways and Means

Description: To amend the Internal Revenue Code of 1986 to restore the estate tax and repeal the carryover basis rule, to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, and to reduce the rate of the estate and gifts taxes to the generally applicable capital gains income tax rate.

Lastest Action: 05/18/2006 Referred to the House Committee on Ways and Means.  (All Actions)

Official: H.R.5421 -- 109th Congress