REV-23 ADJUST THE RATE STRUCTURE AND BROADEN
       THE BASE FOR ESTATE AND GIFTTAXES

                                Annual Added Revenues
                                (Billions of dollars)             Cumulative
Addition to          -----------------------------------------    Five-Year
CBO Baseline         1994     1995      1996     1997     1998     Addition
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                           Adjust the Rate Structure

Reinstate 1992
Top Marginal Rates       a      0.3       0.4      0.4      0.5        1.6

Lower the Federal Credit a      2.5       2.8      3.6      4.5       13.4

                               Broaden the Base

Include Life Insurance
Proceeds in the Base     a      0.2       0.2      0.3      0.3        1.0

Reduce Federal Offset
to State Inheritance
 Taxes                   a      0.5       0.6      0.6      0.7        2.4

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SOURCE:  Joint Committee on Taxation.

a.  Less than $50 million.

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