National Advisory Commission on Tax Reform and Simplification Act of 2001

National Advisory Commission on Tax Reform and Simplification Act of 2001 - Establishes within the legislative branch a National Advisory Commission on Tax Reform and Simplification which shall review and, when applicable, issue proposals on: (1) the present structure and provisions of the Internal Revenue Code; (2) whether tax systems imposed under the laws of other countries could provide more efficient, simple, and fair methods of funding the revenue requirements of the Government; (3) whether the income tax should be replaced with a tax imposed in a different manner or on a different base; and (4) whether the Internal Revenue Code can be simplified, absent wholesale restructuring or replacement.

Authorizes appropriations for the Commission. Terminates the Commission after the submission of a report.