Chairman Kevin Brady has indicated that he would like the House to vote in July, on making all individual tax cuts permanent, which were included in last year’s tax bill.
This would include the doubling of the lifetime exemption for gift, estate and generation-skipping taxes.
Additionally, PATG is working with House and Senate members to introduce a bill that will reduce the gift estate tax rate, and generation- skipping tax to that of the capital gains tax rate; maintaining step up in basis, in June or July.
We would like to give you an update on the progress of both of these, as well as other PATG activities, and discuss the potential impact of the 2018 election results.