To amend the Internal Revenue Code of 1986 to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3,000,000 exclusion and to provide an inflation adjustment of such amount, and for other purposes.
Estate Tax Reduction Act of 2005 - Amends the Internal Revenue Code to reduce estate tax rates and increase the unified estate tax credit to $3 million, with an inflation adjustment to such credit amount beginning in 2006.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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