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- S.650
S.650: Estate Tax Reduction Act of 1997
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced April 24, 1997
- Latest Major Action April 24, 1997
Bill Sponsor
Bill Summary
Estate Tax Reduction Act of 1997 - Amends the Internal Revenue Code to reduce the rate of the estate tax to the following: (1) 20 percent on estates not over $10 million; and (2) $2 million, plus 30 percent of the excess over $10 million on estates over $10 million. Increases the unified credit against the estate tax and the gift tax.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| April 24, 1997 |
Introduced in the Senate by Don Nickles (R-Okla.) |