Estate Tax Reform Act of 2001

Estate Tax Reform Act of 2001 - Amends the Internal Revenue Code to: (1) provide for incremental increases in the unified credit against the estate and gift taxes (currently, $700,000 for 2002) going from $ 1million for 2002 to $ 2 million by 2006; and (2) increase incrementally the current maximum family-owned business deduction amount ($675,000) to new maximum amounts that will be equal to the sum of the decedent's deduction amount ($3.375 million by 2006) and the unused spousal deduction amount (defined).