HR 25 · 108th Congress 2003–2005, ended

Fair Tax Act of 2003

Fact sheet

Latest action · May 5, 2004 Sponsor introductory remarks on measure. (CR H2556)

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJan 7, 2003
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Fair Tax Act of 2003 - Amends the Internal Revenue Code to repeal subtitle A (Income Taxes), B (Estate and Gift Taxes), and C (Employment Taxes) of the Internal Revenue Code.

Imposes a tax on the use or consumption in the United States of taxable property or services. Sets the tax rate at 23 percent for the calendar year 2005. Sets the rate, for years after 2005, at the combined sum of the general revenue rate (14.91 percent), the old-age survivors and disability rate, and the hospital insurance rate.

Sets forth provisions concerning, among other things; (1) imports and exports; (2) definitions; (3) credits and refunds; (4) a "family consumption allowance"; (5) Federal and State cooperative tax administration; (6) administrative matters; (7) collections, appeals, and taxpayer rights; (8) special rules (hobbies, gaming, government purchases, non-profits, and etc.); (9) financial intermediation services; and (10) additional matters.

Sets forth provisions concerning the: (1) phase-out of administration of repealed taxes; (2) administration of other taxes (establishes an Excise Tax Bureau and a Sales Tax Bureau); and (3) sales tax inclusive social security benefits indexation.

Cosponsors 54

Members who signed on, in the order they did. Signatures ran from Jan 7, 2003 to Jul 14, 2004, with 1 there on the day it was introduced.

SeatCosponsorSigned on
D-MNCollin C. PetersonOriginalJan 7, 2003
R-AZJeff FlakeFeb 25, 2003
R-TXJohn Abney CulbersonFeb 25, 2003
R-GAMac CollinsFeb 25, 2003
D-TXRalph M. HallFeb 25, 2003
R-IASteve KingFeb 25, 2003
R-GACharles W. NorwoodMar 17, 2003
D-GANathan DealMar 17, 2003
R-TXKevin BradyMar 18, 2003
R-CAJohn T. DoolittleMar 25, 2003
R-NMStevan PearceMar 25, 2003
R-MNGil GutknechtMar 26, 2003
R-LARichard H. BakerMar 26, 2003
R-TXTom DeLayMar 26, 2003
R-AZJohn B. ShadeggMar 31, 2003

Actions 3

Everything that happened, newest first.

  1. May 5, 2004Sponsor introductory remarks on measure. (CR H2556)
  2. Jan 7, 2003Introduced in House
  3. Jan 7, 2003Referred to the House Committee on Ways and Means.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 1493Fair Tax Act of 2003Identical billJul 30, 2003

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

Processed by Stripe in a separate window. LegiList never sees card details.

Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.