Estate Tax and Extension of Tax Relief Act of 2006
Sponsor: WILLIAM THOMAS (R-CA)
Estate Tax and Extension of Tax Relief Act of 2006 - Title I: Reform and Extension of Estate Tax After 2009 - (Sec. 101) Amends the Internal Revenue Code to restore the unified estate and gift tax exclusion after 2009 and phase in an increase in such exclusion from $3.75 million in 2010 to $5 million in 2015. Adjusts the $5 million exclusion amount for inflation after 2015. 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.
Taxation Topic assigned by the Congressional Research Service. CRS gives each bill one topic, based on the bill as introduced. This one carries 191 subject terms, so it spans well beyond that single label.
Who won, and how much of the country was behind them
The dotted gap is 0.8% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Nay | Won | 42 | 48.6% |
| Yea | Lost | 56 | 50.7% |
| Not represented on this question | No position taken | 0 | 0.8% |
Senate This side won even though more senators, and more Americans, voted the other way. Ending debate needed 60 votes here, not a majority.