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H.R.601

Estate Tax Rate Reduction Act

Introduced·1/22/25

Reduces the estate, gift, and generation-skipping transfer tax rates to 20%.

The Estate Tax Rate Reduction Act amends the Internal Revenue Code to lower the tax rates on estates, gifts, and generation-skipping transfers to 20%. The changes apply to estates of decedents dying, gifts made, and generation-skipping transfers after December 31, 2024. The bill also includes conforming amendments to various sections of the Code to reflect the new tax rate.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Ways And Means Committee
Next
Committee decision

Sponsors

D
1
2
RR
Democratic CaucusRepublican Caucus

History

Jan 22, 2025

House

Introduced in House

Jan 22, 2025

House

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.