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- S.309
S.309: For the 99.8 Percent Act
About This Bill
- Introduced Jan. 31, 2019
- Latest Major Action Jan. 31, 2019
- See the five similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Version
- Introduced in Senate - Jan. 31, 2019
Bill Summary
For the 99.8 Percent Act This bill imposes increased tax rates on decedent estates, gifts, and generation-skipping transfers. Estates with a value of over $1 billion are taxed at a 77% tax rate. The basic exclusion amount is reduced to $3.5 million. The bill increases (1) to $3 million the reduction in valuations of farmland for estate tax purposes and adjusts such increased amount for inflation, and (2) to $2 million the maximum estate tax...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| Jan. 31, 2019 |
Read twice and referred to the Committee on Finance.
|
| Jan. 31, 2019 |
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S807-809)
|
| Jan. 31, 2019 |
Introduced in the Senate by Bernard Sanders (ID-Vt.) |