Fair Tax Act of 2009

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The Fair Tax Act of 2009 (H.R.25) was introduced in the House on January 6, 2009. It was referred to the House Committee on Ways and Means that same day.[1]


According to its sponsor, Rep. John Linder (Ga.), the Fair Tax Act will


will repeal all corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, estate taxes and gift taxes - and replace it with a revenue-neutral personal consumption tax.[2]

Under the bill, the personal consumption tax at 23 percent. It would also establish a system for administering advanced monthly sales tax rebates to families below the federal poverty level.



Contents

Articles and resources

References

  1. OpenCongress' info page on the Fair Tax Act of 2009.
  2. Rep. John Linder's information page on FairTax.

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