Summary: S.3638 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.3638. Bill summaries are authored by CRS.

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Introduced in Senate (11/15/2018)

Estate Tax Rate Reduction Act

This bill amends the Internal Revenue Code to reduce the rate for the tax on estates, gifts, and generation-skipping transfers to 20%. (Under current law, the highest rate is 40%.)

The bill also exempts the budgetary effects of the tax reduction from the Pay-As-You-Go (PAYGO) rules established by the Statutory Pay-As-You-Go Act of 2010 and the FY2018 congressional budget resolution.