h 11 48604 1201064400 false 1201064400 5105 1004 110 400115

1/23/2008--Introduced.<br/>Fair and Simple Tax Act of 2008 - Amends the Internal Revenue Code to: (1) establish an alternative income tax rate system with three tax brackets (10, 15, and 30%); (2) repeal the estate and gift tax; (3) adjust the increased alternative minimum tax (AMT) exemption amounts for inflation after 2007 and make such exemptions permanent; (4) reduce the maximum corporate income tax rate to 25%; (5) reduce the maximum tax rate on capital gains to 10%; (6) allow an inflation adjustment to the basis of capital assets for purposes of determining gain or loss; (7) establish new tax-exempt accounts for retirement savings, lifetime savings, and lifetime skills accounts; (8) exempt individuals under age 65 who do not have employer health care coverage from the adjusted gross income threshold for the medical care tax deduction; and (9) make permanent the tax credit for increasing research activities.<br/>Repeals the terminating dates applicable to provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003.

1201064400 2008-01-23 Fri Nov 07 04:36:46 -0600 2008 introduced 48604 '10':46 '65':89 'age':88 'tax':11,19,28,32,37,63 '1986':8 'basi':50 'care':83 'code':6 'free':64 'gain':42,58 'gift':27 'life':72 'loss':60 'rate':33 'save':68,70 'amend':2 'asset':52 'capit':41,57 'creat':61 'estat':25 'gross':77 'incom':18,31,78 'index':48 'medic':82 'reduc':10,29,34 'retir':67 'skill':73 'adjust':76 'altern':15 'corpor':30 'deduct':84 'employ':93 'health':94 'intern':4 'liabil':20 'provid':13 'purpos':54,99 'repeal':23,74 'revenu':5 'account':65 'coverag':95 'lifetim':69 'maximum':36 'percent':47 'tax-fre':62 'determin':16,56 'dividend':44 'individu':22,39,86 'threshold':79 56232 false official introduced 48604 'act':5 'tax':4 '2008':7 'fair':1 'simpl':3 56482 false short action 48604 1201064400 Wed Jan 23 00:00:00 -0600 2008 142256 Sponsor introductory remarks on measure. (CR H392) D000492 1952-07-05 3772 233 Cannon House Office Building http://doyle.house.gov/email_mike.shtml 26 202-225-7018 David 'r':4 'ca':5 '-26':6 'rep':1 'david':2,7,9 'dreier':3,8,10 M 400115 Dreier David_Dreier T. Rep. David Dreier [R, CA-26] 1469 N00006932 7611 Republican 202-225-2305 Christian Scientist CA David Dreier 4.76923076923077 http://dreier.house.gov/ B000575 1950-01-10 7926 217 Cannon House Office Building http://www.blunt.house.gov/Contact.aspx 7 202-225-5604 Roy 'r':4 '-7':6 'mo':5 'rep':1 'roy':2,7,9 'blunt':3,8,10 M 400034 Blunt Roy_Blunt Rep. Roy Blunt [R, MO-7] 4003 N00005195 8555 Republican 202-225-6536 Baptist MO Roy Blunt 3.52941176470588 http://www.blunt.house.gov/ RepRoyBlunt B001228 1961-10-24 3751 104 Cannon House Office Building http://www.house.gov/formbono/issue.htm 45 202-225-2961 Mary 'r':5 'ca':6 '-45':7 'rep':1 'bono':3,9,12 'mack':4,10,13 'mari':2,8,11 F 400039 Bono Mack Mary_Bono Whitaker Rep. Mary Bono Mack [R, CA-45] 2034 N00007068 12298 Republican 202-225-5330 CA Mary Bono Mack 1.62222222222222 http://bono.house.gov/ C001046 1963-06-06 9065 329 Cannon House Office Building https://writerep.house.gov/writerep/welcome.shtml 7 202-225-0011 Eric 'r':4 '-7':6 'va':5 'rep':1 'eric':2,7,9 'cantor':3,8,10 M 400060 Cantor Eric_Cantor I. Rep. Eric Cantor [R, VA-7] 3732 N00013131 10133 Republican 202-225-2815 Jewish VA Eric Cantor 5.13333333333333 http://cantor.house.gov/ EricCantor D000604 1960-05-24 1248 116 Cannon House Office Building http://dent.house.gov/verifyemail.shtml 15 202-226-0778 Charles 'r':4 'pa':5 '-15':6 'rep':1 'dent':3,8,10 'charl':2,7,9 M 400648 Dent Charles_W._Dent Wieder Rep. Charles Dent [R, PA-15] 288 N00026171 7426 Republican 202-225-6411 PA Charles Dent 6.63636363636364 http://dent.house.gov/ F000440 1965-03-09 2953 Vito 'vito':1,3,5 'fossella':2,4,6 M 400139 Fossella Vito_Fossella J. Vito Fossella 1287 N00000983 5438 Republican Catholic Vito Fossella H001041 1960-05-10 3395 1023 Longworth House Office Building http://heller.house.gov/zipauth.shtml 2 202-225-5679 Dean 'r':4 '-2':6 'nv':5 'rep':1 'dean':2,7,9 'heller':3,8,10 M 412218 Heller Dean_Heller Rep. Dean Heller [R, NV-2] 1513 N00027522 8078 Republican 202-225-6155 NV Dean Heller 6.94444444444444 http://sos.state.nv.us/ H000528 1945-05-20 1358 2268 Rayburn House Office Building http://www.house.gov/herger/contact.shtml 2 202-225-1740 Walter 'r':4 '-2':6 'ca':5 'rep':1 'walli':9 'herger':3,8,11 'walter':2,7,10 M 400176 Herger Wally_Herger Rep. Walter Herger [R, CA-2] 415 Wally N00007584 7384 Republican 202-225-3076 Latter Day Saints CA Wally Walter Herger 6.1 http://www.house.gov/herger/ RepWallyHerger K000210 1944-04-05 6392 436 Cannon House Office Building http://peteking.house.gov/zip.shtml 3 202-226-2279 Peter 'r':4 '-3':6 'ny':5 'rep':1 'king':3,8,11 'pete':9 'peter':2,7,10 M 400219 King Peter_T._King T. Rep. Peter King [R, NY-3] 2428 Pete N00001193 9171 Republican 202-225-7896 Roman Catholic NY Pete Peter King 4.38095238095238 http://peteking.house.gov/ M001150 1954-05-07 2699 228 Cannon House Office Building http://candicemiller.house.gov/Contact.aspx 10 202-226-1169 Candice 'r':4 'mi':5 '-10':6 'rep':1 'candic':2,7,9 'miller':3,8,10 F 400276 Miller Candice_S._Miller Rep. Candice Miller [R, MI-10] 1625 N00009795 7403 Republican 202-225-2106 Presbyterian MI Candice Miller 5.9 http://candicemiller.house.gov/ candicemi10 R000004 1955-06-20 2128 2367 Rayburn House Office Building http://radanovich.house.gov/Contact/email.htm 19 202-225-3402 George 'r':4 'ca':5 '-19':6 'rep':1 'georg':2,7,9 'radanovich':3,8,10 M 400330 Radanovich George_Radanovich P. Rep. George Radanovich [R, CA-19] 959 N00007507 6127 Republican 202-225-4540 Catholic CA George Radanovich 6.42857142857143 http://www.radanovich.house.gov/ RadanovichCA19 R000487 1951-10-12 1534 2185 Rayburn House Office Building http://www.house.gov/writerep 40 202-226-0335 Edward 'r':4 'ca':5 'ed':9 '-40':6 'rep':1 'royc':3,8,11 'edward':2,7,10 M 400348 Royce Edward_R._Royce R. Rep. Edward Royce [R, CA-40] 425 Ed N00008264 5623 Republican 202-225-4111 Roman Catholic CA Ed Edward Royce 6.75 http://www.royce.house.gov/ S000250 1955-03-22 2195 1514 Longworth House Office Building http://www.house.gov/sessionsform/emailform.htm 32 202-225-5878 Peter 'r':4 'tx':5 '-32':6 'rep':1 'pete':9 'peter':2,7,10 'session':3,8,11 M 400367 Sessions Pete_Sessions A. Rep. Peter Sessions [R, TX-32] 815 Pete N00005681 5937 Republican 202-225-2231 Methodist TX Pete Peter Sessions 5.875 http://sessions.house.gov/ action 48604 1201064400 Wed Jan 23 00:00:00 -0600 2008 142256 Sponsor introductory remarks on measure. (CR H392) introduced 48604 1201064400 Wed Jan 23 00:00:00 -0600 2008 142255 action 48604 1201064400 Wed Jan 23 00:00:00 -0600 2008 142257 Referred to the House Committee on Ways and Means.