H R 2525 in Congressional Session 107

Official Summary

 

Bill Number : H R 2525

 

Title : To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.

 

SUMMARY AS OF:
7/17/2001--Introduced. Fair Tax Act of 2001 - 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 2003. Sets the rate, for years after 2003, 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services; and (10) additional matters.Sets forth provisions concerning the: (1) phase-out of administration of repealed taxes; (2) administration of other taxes (establishes an Excise Tax Bureau and a Sales Tax Bureau); and (3) sales tax inclusive social security benefits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.

Votes

Title : To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
Votes in the US Senate
This Bill was not Voted in the US Senate
Votes in the US House
This Bill was not Voted in the US House

Sponsors

 
Congressional Sponsors of H R 2525
 
Bill Number : H R 2525
Title : To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
Sponsor: Rep Linder, John [GA-11] (introduced 7/17/2001)      
ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

    Rep Barcia, James A. [MI-5] - 7/17/2001

    Rep Bonilla, Henry [TX-23] - 7/17/2001

    Rep Condit, Gary A. [CA-18] - 7/17/2001

    Rep Hall, Ralph M. [TX-4] - 7/17/2001

    Rep Lewis, Jerry [CA-40] - 7/17/2001

    Rep Peterson, Collin C. [MN-7] - 7/17/2001

    Rep Young, Don [AK] - 7/17/2001

Other Info

Bill Number : H R 2525
Title : To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
 
 
ALL ACTIONS:
 
7/4/2001:Sponsor introductory remarks on measure. (CR H1461-1462)
 
7/17/2001:Referred to the House Committee on Ways and Means.