Estate and Gift Tax Revenues: Past and Projected (CRS Report for Congress)
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| Release Date |
Aug. 24, 2007 |
| Report Number |
RL34142 |
| Report Type |
Report |
| Authors |
Nonna A. Noto, Government and Finance Division |
| Source Agency |
Congressional Research Service |
Summary:
The years 1997 through 2011 encompass a time of change in estate tax law. Themodest changes brought about by the Taxpayer Relief Act of 1997 (TRA, P.L. 105-34) were followed by large changes made by the Economic Growth and Tax ReliefReconciliation Act of 2001 (EGTRRA, P.L. 107-16). Both laws provided forincreases in the applicable exclusion amount, commonly called the estate taxexemption, as shown in the first column of Table 1. EGTRRA also graduallydecreases the maximum marginal estate tax rate, from 55% (plus a 5% surtax in acertain range) to 45%, as shown in the second column of Table 1.
