Estate Tax Reduction Act of 2007

Summary

Estate Tax Reduction Act of 2007 - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 that eliminate the estate and generation-skipping transfer taxes and the basis rules for property acquired from a decedent after December 31, 2009 (thus restoring such taxes and rules). Amends the Internal Revenue Code to: (1) reduce to 39.2% the maximum estate tax rate; (2) increase to $3 million the unified credit against the estate tax; and (3) provide for an inflation adjustment to the increased credit amount after 2007.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 November 2007

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• Introduced in House (PDF)

  Introduced in House · EN · 15 November 2007

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• Introduced in House

  summary · EN · 15 November 2007

  Open at official source

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