US Congress House Bill 498 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 6-3)
Status: Introduced on January 14 2009 - 25% progression, died in committee
Action: 2009-01-14 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Capital Gains and Estate Tax Relief Act of 2009 - Makes permanent the reduction in capital gains tax rates (from 20 to 15%) enacted by the Jobs and Growth Tax Relief and Reconciliation Act of 2003.Amends the Internal Revenue Code to: (1) restore the unified credit against gift tax liability; (2) provide for annual increases in the estate tax exclusion amount between 2010 and 2015 and establish a permanent exclusion amount of $5 million for 2015 and thereafter; (3) provide for an inflation adjustment to the estate tax exclusion amount after 2015; (4) reduce estate tax rate brackets; and (5) allow a surviving spouse to use the unused unified estate tax credit of a deceased spouse.

Capital Gains and Estate Tax Relief Act of 2009

Rep. Michael Conaway [R-TX]	Sen. Mark Kirk [R-IL]	Rep. Donald Manzullo [R-IL]	Rep. Harry Mitchell [D-AZ]
Rep. Sue Myrick [R-NC]	Rep. Glenn Nye [D-VA]	Rep. Glenn Nye [D-VA]	Rep. Joseph Pitts [R-PA]
Rep. Don Young [R-AK]

Date	Chamber	Action
2009-01-14		Referred to the House Committee on Ways and Means.
2009-01-14		Sponsor introductory remarks on measure. (CR E86)

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/498/all-info
Text	https://www.congress.gov/111/bills/hr498/BILLS-111hr498ih.pdf