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Latest Update: Saturday, October, 11th 2008
To terminate the Internal Revenue Code of 1986.
1/17/2007--Introduced. Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2010, except for self-employment taxes, Federal Insurance Contributions Act taxes, and Railroad Retirement taxes. Declares that any new federal tax system should be a simple and fair system that: (1) applies a low rate to all Americans; (2) provides tax relief for working Americans; (3) protects the rights of taxpayers and reduces tax collection abuses; (4) eliminates the bias against savings and investment; (5) promotes economic growth and job creation; and (6) does not penalize marriage or families. Requires that the new federal tax system be approved by Congress in its final form by July 4, 2010.
Latest Actions
- 01/17/2007 - Sponsor introductory remarks on measure. (CR E130)
- 01/17/2007 - Referred to the House Committee on Ways and Means.
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