Fair Tax Act of 1999

Summary

Fair Tax Act of 1999 - Title I: Repeal of the Income Tax, Payroll Taxes, and Estate and Gift Taxes - 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. Title II: Sales Tax Enacted - 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 2001. Sets the rate, for years after 2001, 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. Title III: Other Matters - Sets forth provisions concerning the: (1) phase-out of administration of repealed taxes; (2) administration of other taxes (establishes an Excise Tax Bureau and a Sales Tax Bureau); and (3) sales tax inclusive social security benefits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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 14 July 1999

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 14 July 1999

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 July 1999

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 July 1999 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 July 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 July 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 14 July 1999

  Open at official source

Sponsors

• Rep. Linder, John [R-GA-7] · R · Sponsor
• COLLIN PETERSON · D · Sponsor
• Rep. Barcia, James A. [D-MI-5] · D · Cosponsor
• Rep. Campbell, Tom [R-CA-12] · R · Cosponsor
• Rep. Hall, Ralph M. [D-TX-4] · D · Cosponsor
• Rep. Bonilla, Henry [R-TX-23] · R · Cosponsor
• Rep. Condit, Gary A. [D-CA-15] · D · Cosponsor
• Rep. Lewis, Jerry [R-CA-35] · R · Cosponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.