Tax Code Termination Act

Bill Number

HR 27

Introduced

Jan 6, 2015

Latest Action

Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently ...

Sponsor

Cosponsors

Topics

Economic performance and conditions Employment taxes Financial services and investments Income tax rates Legislative rules and procedure Tax administration and collection, taxpayers Tax reform and tax simplification Tax treatment of families Taxation

Full Text

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Votes

Summary

Tax Code Termination Act

Terminates the Internal Revenue Code of 1986 after December 31, 2019, except for self-employment taxes, Federal Insurance Contributions Act (FICA) taxes, and railroad retirement taxes. Requires a two-thirds majority vote in Congress to change such termination date.

Declares that any new federal tax system should be a simple and fair system that: (1) applies a low rate to all Americans, (2) provides tax relief for working Americans, (3) protects the rights of taxpayers and reduces tax collection abuses, (4) eliminates the bias against savings and investment, (5) promotes economic growth and job creation, and (6) does not penalize marriage or families.

Requires that the new federal tax system be approved by Congress in its final form by July 4, 2019.

Actions

Jan 6, 2015

Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 6, 2015

Sponsor introductory remarks on measure. (CR E1-2)
Jan 6, 2015

Introduced in House

Amendments

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