Summary: H.R.3886 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.3886. Bill summaries are authored by CRS.

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Introduced in House (09/28/2017)

This bill amends the Internal Revenue Code, with respect to the estate and gift tax, to: (1) increase the basic exclusion amount from $5 million to $50 million; (2) modify the required inflation adjustment for the basic exclusion amount; and (3) replace the existing rate schedule, which ranges from 18% to 40% depending on the amount of the estate or gift, with a single 20% rate.