Summary: S.1950 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.1950. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/25/2019)

Strengthen Social Security by Taxing Dynastic Wealth Act

This bill returns the taxation of estates and gifts to levels that were in effect in 2009. This increases the maximum rate for estates and gifts to 45% and modifies exemptions.

The bill also combines the existing Social Security trust funds into a single Social Security Trust Fund and provides for the deposit of increased estate and gift tax revenue into the consolidated trust fund.