Reduces the estate, gift, and generation-skipping transfer tax rates under the Internal Revenue Code.

The Estate Tax Rate Reduction Act amends the Internal Revenue Code to lower the tax rates on estates, gifts, and generation-skipping transfers. Specifically, it sets the tax rate at 20 percent for these transfers. The changes apply to estates of decedents dying, generation-skipping transfers, and gifts made after December 31, 2024. The budgetary effects of this act are exempt from certain PAYGO scorecards.

Reduces the estate, gift, and generation-skipping transfer tax rates under the Internal Revenue Code.

The Estate Tax Rate Reduction Act amends the Internal Revenue Code to lower the tax rates on estates, gifts, and generation-skipping transfers. Specifically, it sets the tax rate at 20 percent for these transfers. The changes apply to estates of decedents dying, generation-skipping transfers, and gifts made after December 31, 2024. The budgetary effects of this act are exempt from certain PAYGO scorecards.