H R 5638 in Congressional Session 109

Official Summary

 

Bill Number : H R 5638

 

Title : To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate tax to an exclusion equivalent of $5,000,000 and to repeal the sunset provision for the estate and generation-skipping taxes, and for other purposes.

 

SUMMARY AS OF:
6/22/2006--Passed House without amendment.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Permanent Estate Tax Relief Act of 2006 - Amends the Internal Revenue Code to restore the unified estate and gift tax exclusion and increase the exclusion amount to $5 million beginning in 2010. Adjusts such exclusion amount for inflation after 2010. Lowers the estate tax rate to equal the current long-term capital gains tax rate (i.e., 15% through 2010) for taxable estates up to $25 million and to twice such tax rate for estates of $25 million or more, beginning in 2010. Repeals after 2009 the estate tax deduction for estate, inheritance, legacy, or succession taxes paid to states. Provides that the general termination date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) (i.e., December 31, 2010) shall not apply to estate, gift, and generation-skipping transfer tax provisions of EGTRRA which are not amended by this Act. Repeals provisions of EGTRRA relating to carryover basis of estate property to allow heirs to use a date-of-death fair market value for such property after 2009. Allows a surviving spouse to claim any unused portion of a deceased spouse's estate or gift tax exclusion amount. Allows a taxpayer election to deduct 60% of the lesser of qualified timber gain or net capital gain for a taxable year. Allows such deduction to taxpayers who do not itemize deductions. Terminates such deduction after 2008.

Votes

Title : To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate tax to an exclusion equivalent of $5,000,000 and to repeal the sunset provision for the estate and generation-skipping taxes, and for other purposes.
Votes in the US Senate
This Bill was not Voted in the US Senate
Votes in the US House
Roll NumberVote DateQuestionDescriptionVote Result
3152006-06-22On Passage Permanent Estate Tax Relief ActP
3142006-06-22On Motion to Recommit with Instructions Permanent Estate Tax Relief ActF
3132006-06-22Table Appeal of the Ruling of the Chair Permanent Estate Tax Relief ActP
3122006-06-22On Consideration nbsp;P

Sponsors

 
Congressional Sponsors of H R 5638
 
Bill Number : H R 5638

Title : To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate tax to an exclusion equivalent of $5,000,000 and to repeal the sunset provision for the estate and generation-skipping taxes, and for other purposes.

Sponsor: Rep Thomas, William M. [CA-22] (introduced 6/19/2006)      

ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

    Rep Aderholt, Robert B. [AL-4] - 6/22/2006

    Rep Akin, W. Todd [MO-2] - 6/22/2006

    Rep Biggert, Judy [IL-13] - 6/22/2006

    Rep Bonilla, Henry [TX-23] - 6/22/2006

    Rep Brown-Waite, Ginny [FL-5] - 6/22/2006

    Rep Calvert, Ken [CA-44] - 6/22/2006

    Rep Camp, Dave [MI-4] - 6/22/2006

    Rep Campbell, John [CA-48] - 6/22/2006

    Rep Cannon, Chris [UT-3] - 6/22/2006

    Rep Cramer, Robert E. (Bud), Jr. [AL-5] - 6/19/2006

    Rep Davis, Geoff [KY-4] - 6/21/2006

    Rep Drake, Thelma D. [VA-2] - 6/22/2006

    Rep Dreier, David [CA-26] - 6/22/2006

    Rep Duncan, John J., Jr. [TN-2] - 6/22/2006

    Rep Foley, Mark [FL-16] - 6/21/2006

    Rep Gibbons, Jim [NV-2] - 6/22/2006

    Rep Gohmert, Louie [TX-1] - 6/21/2006

    Rep Hart, Melissa A. [PA-4] - 6/21/2006

    Rep Hayworth, J. D. [AZ-5] - 6/21/2006

    Rep Herger, Wally [CA-2] - 6/21/2006

    Rep Hulshof, Kenny C. [MO-9] - 6/19/2006

    Rep Inglis, Bob [SC-4] - 6/22/2006

    Rep Johnson, Timothy V. [IL-15] - 6/22/2006

    Rep Jones, Walter B., Jr. [NC-3] - 6/22/2006

    Rep Kennedy, Mark R. [MN-6] - 6/22/2006

    Rep Kline, John [MN-2] - 6/22/2006

    Rep Kuhl, John R. "Randy", Jr. [NY-29] - 6/22/2006

    Rep Latham, Tom [IA-4] - 6/22/2006

    Rep Lewis, Ron [KY-2] - 6/21/2006

    Rep Linder, John [GA-7] - 6/21/2006

    Rep Manzullo, Donald A. [IL-16] - 6/22/2006

    Rep McCaul, Michael T. [TX-10] - 6/22/2006

    Rep McCrery, Jim [LA-4] - 6/21/2006

    Rep Mica, John L. [FL-7] - 6/22/2006

    Rep Nunes, Devin [CA-21] - 6/21/2006

    Rep Paul, Ron [TX-14] - 6/22/2006

    Rep Peterson, John E. [PA-5] - 6/21/2006

    Rep Poe, Ted [TX-2] - 6/22/2006

    Rep Porter, Jon C. [NV-3] - 6/21/2006

    Rep Putnam, Adam H. [FL-12] - 6/22/2006

    Rep Ramstad, Jim [MN-3] - 6/21/2006

    Rep Rogers, Mike D. [AL-3] - 6/22/2006

    Rep Schmidt, Jean [OH-2] - 6/21/2006

    Rep Sensenbrenner, F. James, Jr. [WI-5] - 6/21/2006

    Rep Sessions, Pete [TX-32] - 6/22/2006

    Rep Shaw, E. Clay, Jr. [FL-22] - 6/21/2006

    Rep Sherwood, Don [PA-10] - 6/21/2006

    Rep Smith, Lamar [TX-21] - 6/22/2006

    Rep Sullivan, John [OK-1] - 6/22/2006

    Rep Wilson, Heather [NM-1] - 6/21/2006

    Rep Wolf, Frank R. [VA-10] - 6/22/2006

Other Info

Bill Number : H R 5638

Title : To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate tax to an exclusion equivalent of $5,000,000 and to repeal the sunset provision for the estate and generation-skipping taxes, and for other purposes.

 

 
ALL ACTIONS:
 
6/19/2006:Referred to the House Committee on Ways and Means.
 
6/21/2006 6:54pm:Rules Committee Resolution H. Res. 885 Reported to House. Rule provides for consideration of H.R. 5638 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
 
6/22/2006 12:48pm:Rule H. Res. 885 passed House.
 
6/22/2006 1:09pm:Mr. Thomas moved to consider.
 
6/22/2006 1:09pm:Ms. Pelosi rose on the question of consideration and pursuant to clause 3, rule 16, demanded a vote on the question of consideration.
 
6/22/2006 1:23pm:On motion to consider Agreed to by recorded vote: 238 - 188 (Roll no. 312).
 
6/22/2006 1:23pm:Considered under the provisions of rule H. Res. 885. (consideration: CR H4445-4467)
 
6/22/2006 1:24pm:Rule provides for consideration of H.R. 5638 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
 
6/22/2006 1:24pm:DEBATE - The House proceeded with one hour of debate on H.R. 5638.
 
6/22/2006 1:25pm:DEBATE - The House continued with debate on H.R. 5638.
 
6/22/2006 2:48pm:The previous question was ordered pursuant to the rule.
 
6/22/2006 2:48pm:Mr. Rangel moved to recommit with instructions to Ways and Means. (consideration: CR H4461-4464; text: CR H4461-4462)
 
6/22/2006 2:49pm:Floor summary: DEBATE - The House proceeded with ten minutes of debate on the motion to recommit with instructions, pending reservation of a a point of order.
 
6/22/2006 2:53pm:Mr. Thomas raised a point of order against the motion to recommit with instructions. Mr. Thomas stated that the provisions of the motion to recommit were not germane to the bill. Sustained by the Chair.
 
6/22/2006 2:53pm:Point of order sustained against the motion to recommit with instructions.
 
6/22/2006 2:58pm:Mr. Rangel appealed the ruling of the chair.
 
6/22/2006 3:05pm:Mr. Thomas moved to table the motion to appeal the ruling of the chair
 
6/22/2006 3:28pm:On motion to table the motion to appeal the ruling of the chair Agreed to by the Yeas and Nays: 229 - 195 (Roll no. 313).
 
6/22/2006 3:28pm:Mr. Pomeroy moved to recommit with instructions to Ways and Means. (consideration: CR H4464-4466; text: CR H4464-4465)
 
6/22/2006 3:29pm:DEBATE - The House proceeded with 10 minutes of debate on the Pomeroy motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment inserting a complete new text entitled "Certain and Immediate Estate Tax Relief Act of 2006".
 
6/22/2006 3:34pm:The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H4465)
 
6/22/2006 3:51pm:On motion to recommit with instructions Failed by recorded vote: 182 - 236 (Roll no. 314). (consideration: CR H4464-4466)
 
6/22/2006 4:00pm:On passage Passed by recorded vote: 269 - 156 (Roll no. 315). (text: CR H4445-4448)
 
6/22/2006 4:00pm:Motion to reconsider laid on the table Agreed to without objection.
 
6/23/2006:Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
 
6/26/2006:Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 496.