FairTax Act of 2015
Latest action · Jan 6, 2015 Referred to the House Committee on Ways and Means.
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 6, 2015
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
FairTax Act of 2015
This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2017, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government functions.
Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.
The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.
Tax revenues are to be allocated among: (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund.
No funding is allowed for the operations of the Internal Revenue Service after FY2019.
Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.
Cosponsors 76
Members who signed on, in the order they did. Signatures ran from Jan 6, 2015 to Sep 8, 2016, with 57 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Ander Crenshaw | Original | Jan 6, 2015 |
| R-MD | Andy Harris | Original | Jan 6, 2015 |
| R-GA | Barry Loudermilk | Original | Jan 6, 2015 |
| R-TX | Bill Flores | Original | Jan 6, 2015 |
| R-FL | Bill Posey | Original | Jan 6, 2015 |
| R-MO | Billy Long | Original | Jan 6, 2015 |
| R-TX | Blake Farenthold | Original | Jan 6, 2015 |
| R-VA | Dave Brat | Original | Jan 6, 2015 |
| R-TN | David P. Roe | Original | Jan 6, 2015 |
| R-GA | Doug Collins | Original | Jan 6, 2015 |
| R-GA | Earl L. "Buddy" Carter | Original | Jan 6, 2015 |
| R-OK | Frank D. Lucas | Original | Jan 6, 2015 |
| R-FL | Gus M. Bilirakis | Original | Jan 6, 2015 |
| R-SC | Jeff Duncan | Original | Jan 6, 2015 |
| R-FL | Jeff Miller | Original | Jan 6, 2015 |
Actions 2
Everything that happened, newest first.
- Jan 6, 2015Introduced in House
- Jan 6, 2015Referred 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 155 | Fair Tax Act of 2015 | Related bill | Jan 13, 2015 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Administrative law and regulatory procedures
- Constitution and constitutional amendments
- Department of the Treasury
- Employment taxes
- Executive agency funding and structure
- Foreign and international corporations
- Fraud offenses and financial crimes
- Gambling
- Games and hobbies
- General taxation matters
- Government information and archives
- Government trust funds
- Income tax credits
- Interest, dividends, interest rates
- Intergovernmental relations
- Internal Revenue Service (IRS)
- Medicare
- Poverty and welfare assistance
- Sales and excise taxes
- Small business
- Social security and elderly assistance
- State and local government operations
- Tax administration and collection, taxpayers
- Tax reform and tax simplification
- Taxation
- Taxation of foreign income
- Transfer and inheritance taxes
Text 1
Each version as it was printed, newest first.
- Jan 6, 2015Introduced in House
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.