3.0.0 3420 2019-02-20T23:42:03Z 2023-01-10T03:57:34Z Senate S S 2012-07-23 112 Death Tax Repeal Permanency Act of 2011 112 1259 HR 2011-03-30 Referred to the House Committee on Ways and Means. Related bill CRS Death Tax Repeal Permanency Act of 2012 112 2242 S 2012-03-28 Read twice and referred to the Committee on Finance. Related bill CRS To permanently extend the 2001 and 2003 tax cuts. 112 6663 HR 2012-12-13 Referred to the House Committee on Ways and Means. Identical bill CRS 2012-07-24 Senate Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 472. Calendars 2012-07-23 Senate Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. Calendars 2012-07-23 Introduced in Senate IntroReferral 10000 9 Library of Congress L000577 Sen. Lee, Mike [R-UT] Mike Lee R UT N R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL 2012-07-23 True R000584 Sen. Risch, James E. [R-ID] James Risch R ID E. 2012-07-23 True D000595 Sen. DeMint, Jim [R-SC] James DeMint R SC W. 2012-07-23 True C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX 2012-07-23 True V000127 Sen. Vitter, David [R-LA] David Vitter R LA 2012-07-23 True J000293 Sen. Johnson, Ron [R-WI] Ron Johnson R WI 2012-07-23 True Taxation Income tax credits Income tax rates Inflation and prices Interest, dividends, interest rates Transfer and inheritance taxes Taxation 00 2012-07-23 Introduced in Senate 2012-09-07T18:48:08Z Permanent Tax Relief Act - Makes permanent: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 that reduce tax rates on dividend and capital gain income.

Amends the Internal Revenue Code to make permanent: (1) the increased alternative minimum tax (AMT) exemption amount for individual taxpayers, and (2) the offset against the AMT for certain nonrefundable personal tax credits.

Repeals the estate tax and the tax on generation-skipping transfers.  Reduces the maximum gift tax rate to 35%. Allows a lifetime gift tax exemption of $5 million.

]]> Permanent Tax Relief Act Short Titles as Introduced Permanent Tax Relief Act Display Title Permanent Tax Relief Act Official Title as Introduced A bill to permanently extend the 2001 and 2003 tax cuts, to provide for permanent alternative minimum tax relief, and to repeal the estate and generation-skipping transfer taxes, and for other purposes. Placed on Calendar Senate 2012-07-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3420pcs/xml/BILLS-112s3420pcs.xml 2012-07-24 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 472. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.