Fair Tax Act of 2003
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.
- IntroducedJan 7, 2003
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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Sets forth provisions concerning the: (1) phase-out of administration of repealed taxes; (2) administration of other taxes (establishes an Excise Tax Bureau and a Sales Tax Bureau); and (3) sales tax inclusive social security benefits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.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Collin C. Peterson | Original | Jan 7, 2003 |
| R-AZ | Jeff Flake | Feb 25, 2003 | |
| R-TX | John Abney Culberson | Feb 25, 2003 | |
| R-GA | Mac Collins | Feb 25, 2003 | |
| D-TX | Ralph M. Hall | Feb 25, 2003 | |
| R-IA | Steve King | Feb 25, 2003 | |
| R-GA | Charles W. Norwood | Mar 17, 2003 | |
| D-GA | Nathan Deal | Mar 17, 2003 | |
| R-TX | Kevin Brady | Mar 18, 2003 | |
| R-CA | John T. Doolittle | Mar 25, 2003 | |
| R-NM | Stevan Pearce | Mar 25, 2003 | |
| R-MN | Gil Gutknecht | Mar 26, 2003 | |
| R-LA | Richard H. Baker | Mar 26, 2003 | |
| R-TX | Tom DeLay | Mar 26, 2003 | |
| R-AZ | John B. Shadegg | Mar 31, 2003 |
Actions 3
Everything that happened, newest first.
- May 5, 2004Sponsor introductory remarks on measure. (CR H2556)
- Jan 7, 2003Introduced in House
- 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.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1493 | Fair Tax Act of 2003 | Identical bill | Jul 30, 2003 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Administrative fees
- Aliens
- Commerce
- Cost of living adjustments
- Department of the Treasury
- Economics and Public Finance
- Estate tax
- Executive reorganization
- Foreign corporations
- Foreign Trade and International Finance
- Gift tax
- Government Operations and Politics
- Government paperwork
- Government trust funds
- Health
- Income tax
- Interest
- Internal Revenue Service (IRS)
- Labor and Employment
- Medicare
- Old age, survivors and disability insurance
- Payroll deductions
- Sales tax
- Social security finance
- Social Welfare
- Tax administration
- Tax courts
- Taxation
- Taxation of foreign income
- Wages
- Withholding tax
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.