Summary: H.R.4996 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.4996. Bill summaries are authored by CRS.

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Introduced in House (04/20/2016)

Sensible Estate Tax Act of 2016

This bill amends the Internal Revenue Code to modify the estate and gift taxes. For the estate tax, the bill increases the rates and decreases the amount that is excluded from the tax. For the gift tax, the bill establishes a separate lifetime exclusion amount. (Under current law, the estate and gift taxes share a unified exclusion amount.)