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Candidate Notes on 01-HR8

 


01-HR8 on Mar 14, 2001

Title: To amend the Internal Revenue Code of 1986 to phaseout the estate and gift taxes over a 10-year period.
    Summary: Repeals, effective January 1, 2011, current provisions relating to the basis of property acquired from a decedent. Provides with respect to property acquired from a decedent dying on January 1, 2011, or later that:

  1. property shall be treated as transferred by gift; and

  2. the basis of the person acquiring the property shall be the lesser of the adjusted basis of the decedent or the fair market value of the property at the date of the decedent's death.

  3. Requires specified information to be reported concerning non-cash assets over $1.3 million transferred at death and certain gifts exceeding $25,000.

  4. Makes the exclusion of gain on the sale of a principal residence available to heirs.

  5. Revises current provisions concerning the transfer of farm real to provide that gain on such

exchange shall be recognized to the estate only to the extent that the fair market value of such property exceeds such value on the date of death.

  • Provides a similar rule for certain trusts.

  • Amends the special rules for allocation of the generation-skipping tax (GST) exemption to provide that if any individual makes an indirect skip during such individual's lifetime, any unused portion of such individual's GST exemption shall be allocated to the property transferred to the extent necessary to make the inclusion ratio for such property zero; and

  • if the amount of the indirect skip exceeds such unused portion, the entire unused portion shall be allocated to the property transferred.

  • Provides that, if an allocation of the GST exemption to any transfers of property is deemed to have been made at the close of an estate tax inclusion period, the value of the property shall be its value at such time.

    • Participating counts on VoteMatch question 11.



    Democrats participating in 01-HR8

    Neil Abercrombie s1pHawaii Democrat
    Brian Baird s1pWashington Democrat
    James Barcia s1pMichigan Democrat
    Shelley Berkley s1pNevada Democrat
    Marion Berry s1pArkansas Democrat
    Sanford Bishop s1pGeorgia Democrat
    Rick Boucher s1pVirginia Democrat
    Eva Clayton s1pNorth Carolina Democrat (Until 2004)
    Gary Condit s1pCalifornia Democrat
    Jerry Costello s1pIllinois Democrat
    Bud Cramer s1pAlabama Democrat
    Cal Dooley s1pCalifornia Democrat (Until 2004)
    Sam Farr s1pCalifornia Democrat
    Harold Ford s1pTennessee Democrat
    Bart Gordon s1pTennessee Democrat
    Ralph Moody Hall s1pTexas Democrat
    Nicholas Lampson s1pTexas Democrat (Re-elected 2006)
    Ken Lucas s1pKentucky Democrat (Until 2004)
    Jim Maloney s1pConnecticut Democrat (retired)
    Carolyn McCarthy s1pNew York Dem./Ind./Working-Families
    Mike McIntyre s1pNorth Carolina Democrat
    David Phelps s1pIllinois Democrat
    Nick Rahall s1pWest Virginia Democrat
    Max Sandlin s1pTexas Democrat (Until 2004)
    Ronnie Shows s1pMississippi Democrat
    Norman Sisisky s1pVirginia Democrat
    David Adam Smith s1pWashington Democrat
    John Tanner s1pTennessee Democrat
    Jim Traficant s1pOhio Democrat
    Albert Wynn s1pMaryland Democrat



    Republicans participating in 01-HR8

    Robert Aderholt s1pAlabama Republican
    Todd Akin s1pMissouri Republican
    Dick Armey s1pTexas Republican
    Spencer Bachus s1pAlabama Republican
    Richard Hugh Baker s1pLouisiana Republican
    Bob Barr s1pGeorgia Republican
    Roscoe Bartlett s1pMaryland Republican
    Joe Linus Barton s1pTexas Republican
    Charlie Bass s1pNew Hampshire Republican
    Judy Biggert s1pIllinois Republican
    Michael Bilirakis s1pFlorida Republican
    Roy Blunt s1pMissouri Republican
    Sherry Boehlert s1pNew York Republican/Independence
    John Boehner s1pOhio Republican
    Henry Bonilla s1pTexas Republican
    Mary Bono s1pCalifornia Republican
    Kevin Brady s1pTexas Republican
    Henry Brown s1pSouth Carolina Republican
    Ed Bryant s1pTennessee Republican
    Richard Burr s1pNC Republican Jr Senator; previously US Representative
    Dan Burton s1pIndiana Republican
    Sonny Callahan s1pAlabama Republican
    Ken Calvert s1pCalifornia Republican
    Dave Camp s1pMichigan Republican
    Chris Cannon s1pUtah Republican
    Eric Cantor s1pVirginia Republican
    Shelley Moore Capito s1pWest Virginia Republican
    Steve Chabot s1pOhio Republican
    Saxby Chambliss s1pGA Republican Sr Senator
    John Howard Coble s1pNorth Carolina Republican
    Larry Combest s1pTexas Republican
    Christopher Cox s1pCalifornia Republican
    Philip Crane s1pIllinois Republican (Until 2004)
    Ander Crenshaw s1pFlorida Republican
    Barbara Cubin s1pWyoming Republican
    John Culberson s1pTexas Republican
    Duke Cunningham s1pCalifornia Republican
    Jo Ann Davis s1pVirginia Republican
    Tom Davis s1pVirginia Republican
    Nathan Deal s1pGeorgia Republican
    Tom DeLay s1pTexas Republican
    Jim DeMint s1pSC Republican Jr Senator; previously US Representative
    John Doolittle s1pCalifornia Republican
    David Dreier s1pCalifornia Republican
    Jimmy Duncan s1pTennessee Republican
    Jennifer Dunn s1wWashington Republican (Until 2004)
    Vernon Ehlers s1pMichigan Republican
    Robert Ehrlich s1pMaryland Republican
    Jo Ann Emerson s1pMissouri Republican
    Phil English s1pPennsylvania Republican
    Terry Everett s1pAlabama Republican
    Mike Ferguson s1pNew Jersey Republican
    Ernie Fletcher s1pKentucky Republican
    Mark Foley s1pFlorida Republican
    Vito Fossella s1pNew York Rep./Cons./Right-To-Life
    Rodney Frelinghuysen s1pNew Jersey Republican
    Elton Gallegly s1pCalifornia Republican
    Greg Ganske s1pIA Former Republican Nominee (2002)
    George Gekas s1pPennsylvania Republican
    Jim Gibbons s1pNevada Republican
    Wayne Gilchrest s1pMaryland Republican
    Paul Gillmor s1pOhio Republican
    Benjamin Gilman s1pNew York Republican
    Virgil Goode s1pVirginia Republican
    Bob Goodlatte s1pVirginia Republican
    Porter Goss s1pFlorida Republican (Until 2004)
    Lindsey Graham s1pSC Republican Jr Senator
    Kay Granger s1pTexas Republican
    Mark Green s1pWisconsin Republican
    Jim Greenwood s1pPennsylvania Republican (Until 2004)
    Felix Grucci s1pNew York Republican
    James Hansen s1pUtah Republican
    Melissa Hart s1pPennsylvania Republican
    Denny Hastert s1pIllinois Republican
    Doc Hastings s1pWashington Republican
    Robin Hayes s1pNorth Carolina Republican
    J.D. Hayworth s1pArizona Republican
    Joel Hefley s1pColorado Republican
    Wally Herger s1pCalifornia Republican
    Van Hilleary s1pTennessee Republican
    Peter Hoekstra s1pMichigan Republican
    Steve Horn s1pCalifornia Republican
    John Hostettler s1pIndiana Republican
    Kenny Hulshof s1pMissouri Republican
    Duncan Hunter s1pCalifornia Republican
    Asa Hutchinson s1pArkansas Republican
    Henry Hyde s1pIllinois Republican
    Johnny Isakson s1pGA Republican Jr Senator; previously US Representative
    Bill Jenkins s1pTennessee Republican
    Sam Johnson s1pTexas Republican
    Walter Beaman Jones s1pNorth Carolina Republican
    Ric Keller s1pFlorida Republican
    Sue Kelly s1pNew York Republican/Conservative
    Brian Kerns s1pIndiana Republican
    Peter King s1pNew York Rep./Ind./Cons./Right-To-Life
    Jack Kingston s1pGeorgia Republican
    Mark Kirk s1pIllinois Republican
    Joe Knollenberg s1pMichigan Republican
    Jim Kolbe s1pArizona Republican
    Ray LaHood s1pIllinois Republican
    Steve Largent s1pOK00 Former Republican Candidate
    Tom Latham s1pIowa Republican
    Steven LaTourette s1pOhio Republican
    Jerry Lewis s1pCalifornia Republican
    Ron Lewis s1pKentucky Republican
    John Linder s1pGeorgia Republican
    Frank LoBiondo s1pNew Jersey Republican
    Frank Dean Lucas s1pOklahoma Republican
    Donald Manzullo s1pIllinois Republican
    Jim McCrery s1pLouisiana Republican
    John McHugh s1pNew York Republican/Conservative
    Scott McInnis s1pColorado Republican (Until 2004)
    Buck McKeon s1pCalifornia Republican
    John Mica s1pFlorida Republican
    Dan Miller s1pFlorida Republican (retired)
    Gary Miller s1pCalifornia Republican
    Sue Myrick s1pNorth Carolina Republican
    Bob Ney s1pOhio Republican
    Anne Meagher Northup s1pKentucky Republican
    Charlie Norwood s1pGeorgia Republican
    Jim Nussle s1pIowa Republican
    Tom Osborne s1pNebraska Republican
    Doug Ose s1pCalifornia Republican
    Butch Otter s1pID Republican
    Michael Oxley s1pOhio Republican
    Ron Paul s1pPOTUS Republican (Libertarian 1988)
    Mike Pence s1pIndiana Republican
    John Peterson s1pPennsylvania Republican
    Chip Pickering s1pMS Republican challenger, U.S. Rep.
    Joseph Pitts s1pPennsylvania Republican
    Todd Platts s1pPennsylvania Republican
    Richard Pombo s1pCalifornia Republican
    Rob Portman s1pOhio Republican
    Deborah Pryce s1pOhio Republican
    Adam Putnam s1pFlorida Republican
    George Radanovich s1pCalifornia Republican
    Jim Ramstad s1pMinnesota Republican
    Thomas Reynolds s1pNew York Republican/Cons. (Until 2004)
    Bob Riley s1pAL Republican
    Hal Rogers s1pKentucky Republican
    Mike Rogers s1pMichigan Republican
    Dana Rohrabacher s1pCalifornia Republican
    Ileana Ros-Lehtinen s1pFlorida Republican
    Marge Roukema s1pNew Jersey Republican
    Ed Royce s1pCalifornia Republican
    Paul Ryan s1pWisconsin Republican
    Jim Ryun s1pKansas Republican
    Jim Saxton s1pNew Jersey Republican
    Joe Scarborough s1pFlorida Republican
    Edward Schrock s1pVirginia Republican (Until 2004)
    James Sensenbrenner s1pWisconsin Republican
    Pete Sessions s1pTexas Republican
    John Shadegg s1pArizona Republican
    Clay Shaw s1pFlorida Republican
    John Shimkus s1pIllinois Republican
    Rob Simmons s1pConnecticut Republican
    Mike Simpson s1pIdaho Republican
    Joe Skeen s1pNew Mexico Republican
    Christopher Smith s1pNew Jersey Republican
    Lamar Smith s1pTexas Republican
    Mark Souder s1pIndiana Republican
    Floyd Spence s1pSouth Carolina Republican
    Cliff Stearns s1pFlorida Republican
    Bob Stump s1pArizona Republican
    John Sununu s1pNew Hampshire Republican
    John Sweeney s1pNew York Republican/Conservative
    Tom Tancredo s1pColorado Republican
    Billy Tauzin s1pLouisiana Republican (Until 2004)
    Charles Taylor s1pNorth Carolina Republican
    Lee Terry s1pNebraska Republican
    Bill Thomas s1pCalifornia Republican
    Mac Thornberry s1pTexas Republican
    John Thune s1pSD Republican Jr Senator; previously US Representative
    Todd Tiahrt s1pKansas Republican
    Pat Toomey s1pPennsylvania Republican (Until 2004)
    David Vitter s1pLA Republican Jr Senator; previously US Representative
    Greg Walden s1pOregon Republican
    Jim Walsh s1pNew York Rep./Ind./Conservative
    Zach Wamp s1pTennessee Republican
    Wes Watkins s1pOklahoma Republican
    J.C. Watts s1pOklahoma Republican
    Curt Weldon s1pPennsylvania Republican
    Dave Weldon s1pFlorida Republican
    Jerry Weller s1pIllinois Republican
    Ed Whitfield s1pKentucky Republican
    Roger Wicker s1pMississippi Republican
    Heather Wilson s1pNew Mexico Republican
    Frank Wolf s1pVirginia Republican
    Don Young s1pAlaska Republican



    Independents participating in 01-HR8

    Brad Carson s1pOK 2004 former Democratic challenger; US Representative
    John Cooksey s1pLA 2004 former Republican Nominee
    Darrell Issa s1pCAL Former Initiator of Recall
    Chris John s1pLA 2004 former Democratic challenger; US Representative
    George Nethercutt s1pWA 2004 former Republican challenger; US Representative
    Bob Schaffer s1pCO 2004 former Republican primary challenger



    Total recorded by OnTheIssues:

    Democrats: 30
    Republicans: 189
    Independents: 6