A bill to amend the Internal Revenue Code of 1954 to increase the estate tax exemption and the gift tax exclusion.

Summary

Increases the estate tax exemption under the Internal Revenue Code from $60,000 to $200,000. Increases the gift tax exclusion from $3,000 to $10,000. Increases the specific exemption allowable in computing the amount of taxable gifts for a calendar quarter from $30,000 to $100,000.

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Timeline

1. 28 January 1975

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 28 January 1975

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 January 1975

  Open at official source

Sponsors

• Sen. Young, Milton R. [R-ND] · R · Sponsor
• · ssfi00 · Standing

Related records

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