PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9119-9121)
Congressional Research Service
Version 00 · Introduced in Senate · Sep 24, 2002
Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act - Amends estate tax provisions of the Internal Revenue Code to repeal section 2057 (Family-Owned Business Interests). Allows for purposes of such tax, in the case of an electing estate of a decedent with specified carryover business interests, the taxable estate value to be determined by deducting from the value of the gross estate the adjusted value of such carryover business interests of the decedent. Provides for the treatment of carryover business interests and spousal property.
People & committees
Sen. Lincoln, Blanche L. [D-AR] · D–AR
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9119-9121)
Sponsor introductory remarks on measure. (CR S9118-9119)
Introduced in Senate
Primary sources
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Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.
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Analyze S.2994 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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