U.S. Congress - H.R.510 Tax Code Termination Act
H.R.510 - Tax Code Termination Act
To terminate the Internal Revenue Code of 1986. view all titles (2)
All Bill Titles
- Official: To terminate the Internal Revenue Code of 1986. as introduced.
- Short: Tax Code Termination Act as introduced.
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Official Summary
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 andOfficial Summary
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.
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