Number: RL33501
Title: Indexing the Estate Tax Exemption for Inflation
Authors: Nonna A. Noto, Government and Finance Division 
Abstract: H.R. 5638, the Permanent Estate Tax Relief Act of 2006, was passed by the House of Representatives on June 22, 2006. Among the changes it would make are raising the level of the exemption under the unified estate and gift taxes to $5 million per decedent in 2010 and indexing that amount for inflation in the years thereafter. The inflation-adjusted amount of the exemption for a year would be rounded to the nearest multiple of $100,000.
Pages: 12
Date: July 7, 2006