A bill to amend the Internal Revenue Code of 1986 to permanently extend the estate tax as in effect in 2009, and for other purposes.

Summary

Amends the Internal Revenue Code to: (1) establish a permanent estate tax exclusion of $3.5 million ($7 million for married couples filing joint tax returns) and a maximum 45% tax rate for decedents dying, generation-skipping transfers, and gifts made, after December 31, 2009; (2) allow an annual inflation adjustment to the exclusion amount after 2010; and (3) allow a surviving spouse an increase in the estate tax exclusion by the unused exclusion amount of a deceased spouse. Expresses the sense of the Senate that any reduction in federal revenues resulting from this Act should be fully offset.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 November 2009

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 November 2009

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 November 2009

  Open at official source

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