Tax Code Termination Act
Latest action · Mar 2, 2007 Read twice and referred to the Committee on Finance.
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.
- IntroducedMar 2, 2007
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2010, except provisions of such Code relating to social security taxation (i.e., taxes on wage, self-employment, and railroad retirement income).
Establishes within the legislative branch a National Commission on Tax Reform and Simplification. Directs the Commission to: (1) review the Internal Revenue Code of 1986 and its impact on the economy, families, and the workforce: (2) determine whether the current income tax system can be replaced by more a more efficient and fair system of taxation; and (3) submit a report to Congress on the results of its review with recommendations for fundamental reform and simplification of the Code.
Requires congressional approval of a new federal tax system no later than July 4, 2010, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.
Cosponsors 20
Members who signed on, in the order they did. Signatures ran from Mar 2, 2007 to Nov 16, 2007, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-SC | Lindsey Graham | Original | Mar 2, 2007 |
| R-ID | Mike Crapo | Original | Mar 2, 2007 |
| R-GA | Saxby Chambliss | Original | Mar 2, 2007 |
| R-CO | Wayne Allard | Original | Mar 2, 2007 |
| R-LA | David Vitter | Mar 14, 2007 | |
| R-KS | Sam Brownback | Mar 21, 2007 | |
| R-WY | Craig Thomas | May 10, 2007 | |
| R-OH | George V. Voinovich | May 10, 2007 | |
| R-OK | James M. Inhofe | May 10, 2007 | |
| R-AL | Jeff Sessions | May 10, 2007 | |
| R-SC | Jim DeMint | May 10, 2007 | |
| R-NH | John E. Sununu | May 10, 2007 | |
| R-NH | Judd Gregg | May 10, 2007 | |
| R-TX | Kay Bailey Hutchison | May 10, 2007 | |
| R-ID | Larry E. Craig | May 10, 2007 |
Actions 3
Everything that happened, newest first.
- Mar 2, 2007Introduced in Senate
- Mar 2, 2007Read twice and referred to the Committee on Finance.
- Mar 2, 2007Sponsor introductory remarks on measure. (CR S2560-2561)
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Capital
- Capital investments
- Commerce
- Congress
- Congressional reporting requirements
- Economics and Public Finance
- Families
- Federal advisory bodies
- Finance and Financial Sector
- Government Operations and Politics
- Income tax
- Internal revenue law
- Labor and Employment
- Legislation
- Progressive taxation
- Saving and investment
- Tax administration
- Tax incidence
- Tax rates
- Tax simplification
- Taxation
- Taxpayer compliance
Text 1
Each version as it was printed, newest first.
- Mar 2, 2007Introduced in Senate
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.