H.R.352 - Tax Code Termination Act

To terminate the Internal Revenue Code of 1986. view all titles (2)

All Bill Titles

  • Short: Tax Code Termination Act as introduced.
  • Official: To terminate the Internal Revenue Code of 1986. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/23/13
 
 
 
 
 
 
 

Sponsor

Representative

Bob Goodlatte

R-VA

View Co-Sponsors (121)

Official Summary

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2017, except for self-employment taxes, Federal Insurance Contributions Act (FICA) taxes, and railroad retirement taxes. Requires a two-thirds majority vote in Congress to change such termination date

Official Summary

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2017, except for self-employment taxes, Federal Insurance Contributions Act (FICA) taxes, and railroad retirement taxes. Requires a two-thirds majority vote in Congress to change such termination date. 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, 2017.

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