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Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill lowers federal taxes on estates, gifts, and generation-skipping transfers by replacing the current rate structure with a single 20% rate. It also updates related parts of the tax code to use this one rate across the board.
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Introduced January 22, 2025 by Jodey Cook Arrington · Last progress 1 year ago