H.R.2023 - Sensible Estate Tax Act of 2009

To amend the Internal Revenue Code of 1986 to reform the estate and gift tax. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to reform the estate and gift tax. as introduced.
  • Short: Sensible Estate Tax Act of 2009 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
04/22/09
 
 
 
 
 
 
 

Sponsor

Representative

Jim McDermott

D-WA

No Co-Sponsors

Official Summary

Sensible Estate Tax Act of 2009 - Repeals provisions of the Economic Growth and Tax Reconciliation Act of 2001 relating to the estate and gift tax. Amends the Internal Revenue Code to: (1) allow an estate tax exclusion of $2 million adjusted for inflation in calendar years after 2010; (2) r

Official Summary

Sensible Estate Tax Act of 2009 - Repeals provisions of the Economic Growth and Tax Reconciliation Act of 2001 relating to the estate and gift tax. Amends the Internal Revenue Code to:
(1) allow an estate tax exclusion of $2 million adjusted for inflation in calendar years after 2010;
(2) revise the estate tax rates for larger estates;
(3) restore the estate tax credit for state estate, inheritance, legacy, or succession taxes;
(4) restore the unified credit against the gift tax; and
(5) allow a surviving spouse an increase in the unified estate tax credit by the amount of any unused credit of a deceased spouse.

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