H.R. 3475 would amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, to adjust such amount for inflation, to repeal the 1-year termination of the estate tax.

== Detailed Summary ==

<summary>
(Log inAmends the Internal Revenue Code to editincrease the wiki and beunified credit against the firstestate and gift tax to provide a detailed summary$5 million after 2009 and to adjust such amount for inflation for estates opened after 2010.

Restores previous estate tax and carryover basis provisions temporarily repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Modifies the bill!)general termination date of such Act (i.e., December 31, 2010) as it applies to certain EGTRRA estate and gift tax provisions.
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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 9/5/2007: Referred to House committee. Status: Referred to edit the wikiHouse Committee on Ways and be the first to update the status of the bill!)Means.
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== Points in Favor ==

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== Points Against ==

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