I 
114TH CONGRESS 
2D SESSION 
H. R. 4996 
To amend the Internal Revenue Code of 1986 to return the estate, gift, 
and generation skipping transfer tax to 2009 levels. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 20, 2016 
Mr. LEVIN (for himself, Mr. RANGEL, Mr. BLUMENAUER, Mr. VAN HOLLEN, 
Mr. CROWLEY, Mr. PASCRELL, Mr. NEAL, Mr. HOYER, and Mr. LARSON 
of Connecticut) introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to return 
the estate, gift, and generation skipping transfer tax 
to 2009 levels. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Sensible Estate Tax 
Act of 2016’’. 
SEC. 2. ESTATE AND GIFT TAX RETURNED TO 2009 LEVELS. 
(a) ESTATE TAX.— 
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(1) RATE SCHEDULE.—Subsection (c) of sec-
tion 2001 of the Internal Revenue Code of 1986 is 
amended to read as follows: 
‘‘(c) RATE SCHEDULE.— 
‘‘If the amount with respect to 
which the tentative 
tax to be computed is: 
The tentative tax is: 
Not over $10,000 ..........................
18% of such amount. 
Over 
$10,000 
but 
not 
over 
$20,000.
$1,800, plus 20 percent of the excess 
of such amount over $10,000. 
Over 
$20,000 
but 
not 
over 
$40,000.
$3,800, plus 22% of the excess of 
such amount over $20,000. 
Over 
$40,000 
but 
not 
over 
$60,000.
$8,200, plus 24% of the excess of 
such amount over $40,000. 
Over 
$60,000 
but 
not 
over 
$80,000.
$13,000, plus 26% of the excess of 
such amount over $60,000. 
Over 
$80,000 
but 
not 
over 
$100,000.
$18,200, plus 28% of the excess of 
such amount over $80,000. 
Over 
$100,000 
but 
not 
over 
$150,000.
$23,800, plus 30% of the excess of 
such amount over $100,000. 
Over 
$150,000 
but 
not 
over 
$250,000.
$38,800, plus 32% of the excess of 
such amount over $150,000. 
Over 
$250,000 
but 
not 
over 
$500,000.
$70,800, plus 34% of the excess of 
such amount over $250,000. 
Over 
$500,000 
but 
not 
over 
$750,000.
$155,800, plus 37% of the excess of 
such amount over $500,000. 
Over 
$750,000 
but 
not 
over 
$1,000,000.
$248,300, plus 39% of the excess of 
such amount over $750,000. 
Over $1,000,000 but not over 
$1,250,000.
$345,800, plus 41% of the excess of 
such amount over $1,000,000. 
Over $1,250,000 but not over 
$1,500,000.
$448,300, plus 43% of the excess of 
such amount over $1,250,000. 
Over $1,500,000 ............................
$555,800, plus 45% of the excess of 
such amount over $1,500,000.’’. 
(2) EXEMPTION
AMOUNT.—Paragraph (3) of 
section 2010(c) of such Code is amended to read as 
follows: 
‘‘(3) BASIC
EXCLUSION
AMOUNT.—For pur-
poses of this subsection, the basic exclusion amount 
is $3,500,000.’’. 
(b) GIFT TAX.— 
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(1) LIMITATION ON BASIC EXCLUSION AMOUNT 
FOR
PURPOSES
OF
DETERMINING
APPLICABLE 
CREDIT AMOUNT.—Paragraph (1) of section 2505(a) 
of the Internal Revenue Code of 1986 is amended by 
inserting ‘‘(determined as if the basic exclusion 
amount were $1,000,000 and the deceased spousal 
unused exclusion amount was modified under sub-
section (d))’’ after ‘‘calendar year’’. 
(2) MODIFICATION OF DECEASED SPOUSAL UN-
USED EXCLUSION AMOUNT.—Section 2505 of such 
Code is amended by adding at the end the following: 
‘‘(d) MODIFICATION OF DECEASED SPOUSAL UN-
USED EXCLUSION AMOUNT.—In the case of a surviving 
spouse who is the last spouse of the decedent with respect 
to whom an election is made under section 2010(c)(5), the 
deceased spousal unused exclusion amount with respect to 
such surviving spouse shall be determined as if such 
amount were the lesser of— 
‘‘(1) $1,000,000, and 
‘‘(2) applicable exclusion amount of the dece-
dent reduced by the amount with respect to which 
the tentative tax is determined under section 
2001(b)(1) on the estate of the decedent.’’. 
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