Bill > HR86

This bill, the End Tax Uncertainty Act of 2011, aims to make several significant tax provisions permanent, including those from the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and certain parts of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) that lowered taxes on dividends and capital gains. It also permanently repeals the estate tax, which is a tax on the transfer of a deceased person's assets, and the gift tax, a tax on gifts made during a person's lifetime, as well as the generation-skipping transfer tax, which applies to transfers to beneficiaries two or more generations younger than the donor. Furthermore, the bill repeals the alternative minimum tax (AMT) for individual taxpayers, a parallel tax system designed to ensure that wealthier individuals pay at least a minimum amount of tax, and reduces the maximum income tax rate for corporations, including personal service corporations (businesses where the principal activity is the performance of personal services), to 25%.