A bill to amend the Internal Revenue Code of 1954 to increase the unified credit against estate and gift taxes to provide that $500,000 of property shall be exempt from such taxes, and to provide an inflation adjustment of such amount.

Introduced

27 January 1981

Last action

4 August 1981 · Committee

Status

See H.R.4242.

Sponsors

Rep. Tauke, Thomas Joseph [R-IA-2], Rep. Natcher, William H. [D-KY-2], Rep. Johnston, Eugene (Gene) [R-NC-6], Rep. Kogovsek, Ray [D-CO-3], Rep. Collins, James M. [R-TX-3], Rep. Murphy, Austin J. [D-PA-20], Rep. Hartnett, Thomas F. [R-SC-1], Rep. Bailey, Wendell [R-MO-8], Rep. Duncan, John J. [R-TN-2], Rep. Hinson, Jon C. [R-MS-4], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Price, Melvin [D-IL-21], Rep. Walker, Robert S. [R-PA-16], Rep. Campbell, Carroll A., Jr. [R-SC-4], Rep. Forsythe, Edwin B. [R-NJ-6], Rep. Davis, Robert W. [R-MI-11], Rep. Daniel, Robert W., Jr. [R-VA-4], Rep. Guyer, Tennyson [R-OH-4], Rep. Hughes, William J. [D-NJ-2], Rep. Dyson, Roy [D-MD-1], Rep. Beard, Robin [R-TN-6], Rep. Roe, Robert A. [D-NJ-8], Rep. Hillis, Elwood H. [R-IN-5], Rep. Neal, Stephen L. [D-NC-5], Rep. Huckaby, Thomas J. (Jerry) [D-LA-5], Rep. Whittaker, Bob [R-KS-5], Rep. Leath, Marvin [D-TX-11], Rep. Goodling, William F. [R-PA-19], Rep. Gingrich, Newt [R-GA-6], Rep. Evans, Cooper [R-IA-3], Rep. Rousselot, John H. [R-CA-26], Rep. Brown, Clarence, Jr. [R-OH-7], Rep. Hiler, John Patrick [R-IN-3], Rep. Bedell, Berkley W. [D-IA-6], Rep. Porter, John Edward [R-IL-10], Rep. Barnard, Doug, Jr. [D-GA-10], Rep. Railsback, Thomas F. [R-IL-19], Rep. Chappell, Bill, Jr. [D-FL-4], Rep. Lujan, Manuel, Jr. [R-NM-1], Rep. Hutto, Earl [D-FL-1], Rep. Petri, Thomas E. [R-WI-6], Rep. Dornan, Robert K. [R-CA-46], Rep. Hansen, James V. [R-UT-1], Rep. Parris, Stanford E. (Stan) [R-VA-8], Rep. Courter, Jim [R-NJ-12], Rep. Wilson, Charles [D-TX-2], Rep. Lowery, Bill [R-CA-41], Rep. Daub, Hal [R-NE-2]

Subjects

Taxation

Source updated

7 February 2024