II 

109TH CONGRESS 

1ST SESSION S. 988 

To permanently repeal the estate and generation-skipping transfer taxes. 

IN THE SENATE OF THE UNITED STATES 

MAY 10, 2005 

Mr. SESSIONS (for himself, Mr. ENSIGN, Mr. MARTINEZ, Mr. CORNYN, Mr. 

ALLEN, Mr. HATCH, Mrs. HUTCHISON, Mr. LOTT, Mr. ISAKSON, Mr. 

COCHRAN, Mr. BUNNING, Mr. BURNS, Mr. COBURN, Mr. CHAMBLISS, 

Mr. INHOFE, Mr. ENZI, Mr. CRAPO, Mr. CRAIG, Mr. GRAHAM, Mr. 

VITTER, Mr. THUNE, Mr. ALEXANDER, Mr. SUNUNU, and Mr. ALLARD) 

introduced the following bill; which was read twice and referred to the 

Committee on Finance 

A BILL

To permanently repeal the estate and generation-skipping 

transfer taxes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Jobs Protection and 

5 Estate Tax Reform Act of 2005’’. 
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1 SEC. 2. REPEAL OF ESTATE AND GENERATION-SKIPPING 

2 TRANSFER TAXES ACCELERATED TO 2005. 

3 (a) ESTATE TAX REPEAL.—Section 2210 of the In4 ternal Revenue Code of 1986 (relating to termination) is 

5 amended— 

6 (1) by striking ‘‘December 31, 2009’’ and in7 serting ‘‘December 31, 2004’’ both places it appears, 

8 (2) by striking ‘‘January 1, 2010’’ in subsection 

9 (b) and inserting ‘‘January 1, 2005’’, and 

10 (3) by striking ‘‘December 31, 2020’’ in sub11 section (b)(1) and inserting ‘‘December 31, 2014’’. 

12 (b) GENERATION-SKIPPING TRANSFER TAX RE13 PEAL.—Section 2664 of such Code (relating to termi14 nation) is amended by striking ‘‘December 31, 2009’’ and 

15 inserting ‘‘December 31, 2004’’. 

16 (c) CONFORMING AMENDMENTS.— 

17 (1) The table contained in section 2010(c) of 

18 such Code is amended— 

19 (A) by striking ‘‘and 2005’’, 

20 (B) by inserting a period after 

21 ‘‘$1,500,000’’, and 

22 (C) by striking the last 2 items. 

23 (2) Section 1014(f) of such Code is amended by 

24 striking ‘‘December 31, 2009’’ and inserting ‘‘De25 cember 31, 2004’’. 

26 (3) Section 1022 of such Code is amended— 
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1 (A) by striking ‘‘December 31, 2009’’ in 

2 the heading and in subsection (a)(1) and insert3 ing ‘‘December 31, 2004’’, and 

4 (B) in subsection (d)(4)(A)— 

5 (i) by striking ‘‘2010’’ and inserting 

6 ‘‘2005’’, and 

7 (ii) by striking ‘‘2009’’ in clause (ii) 

8 and inserting ‘‘2004’’. 

9 (4) The table contained in section 

10 2001(c)(2)(B) of such Code is amended— 

11 (A) by inserting a period after ‘‘48 per12 cent’’, and 

13 (B) by striking the last 3 items. 

14 (5) Section 2001(c)(2)(A) of such Code is 

15 amended by striking ‘‘2010’’ and inserting ‘‘2005’’. 

16 (6) The item in the table of sections for part 

17 II of subchapter O of chapter 1 of such Code relat18 ing to section 1022 is amended by striking ‘‘Decem19 ber 31, 2009’’ and inserting ‘‘December 31, 2004’’. 

20 (7) Section 501(d) of the Economic Growth and 

21 Tax Relief Reconciliation Act of 2001 (Public Law 

22 107–16) is amended by striking ‘‘December 31, 

23 2009’’ and inserting ‘‘December 31, 2004’’. 

24 (8) Paragraph (3) of section 511(f) of the Eco25 nomic Growth and Tax Relief Reconciliation Act of 
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1 2001 (Public Law 107–16) is amended by striking 

2 ‘‘December 31, 2009’’ and inserting ‘‘December 31, 

3 2004’’. 

4 (9) Paragraph (2) of section 521(e) of the Eco5 nomic Growth and Tax Relief Reconciliation Act of 

6 2001 (Public Law 107–16) is amended by striking 

7 ‘‘December 31, 2009’’ and inserting ‘‘December 31, 

8 2004’’. 

9 (10) Subsection (f) of section 542 of the Eco10 nomic Growth and Tax Relief Reconciliation Act of 

11 2001 (Public Law 107–16) is amended by striking 

12 ‘‘December 31, 2009’’ each place it appears and in13 serting ‘‘December 31, 2004’’. 

14 (d) EFFECTIVE DATE.—The amendments made by 

15 this section shall apply to estates of decedents dying, gifts 

16 made, and generation skipping transfers after December 

17 31, 2004. 

18 SEC. 3. PERMANENT REPEAL OF ESTATE TAXES. 

19 Section 901 of the Economic Growth and Tax Relief 

20 Reconciliation Act of 2001 is amended by striking ‘‘this 

21 Act’’ and all that follows through ‘‘2010.’’ in subsection 

22 (a) and inserting ‘‘this Act (other than title V) shall not 

23 apply to taxable, plan, or limitation years beginning after 
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1 December 31, 2010.’’, and by striking ‘‘, estates, gifts, 

2 and transfers’’ in subsection (b).

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