S 1950
116th Congress
Senate
Taxation
Government trust funds
Social security and elderly assistance
Transfer and inheritance taxes
Strengthen Social Security by Taxing Dynastic Wealth Act
Introduced: June 25, 2019
Introduced by:
Van Hollen, Chris
Democratic
· Maryland
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 25, 2019
Read twice and referred to the Committee on Finance.
Jun 25, 2019
Introduced in Senate
Plain-English summary
Strengthen Social Security by Taxing Dynastic Wealth Act
This bill returns the taxation of estates and gifts to levels that were in effect in 2009. This increases the maximum rate for estates and gifts to 45% and modifies exemptions.
The bill also combines the existing Social Security trust funds into a single Social Security Trust Fund and provides for the deposit of increased estate and gift tax revenue into the consolidated trust fund.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1