Flat Tax Act of 1988

Summary

Flat Tax Act of 1988 - Amends the Internal Revenue Code to impose a 15 percent tax on the taxable income of every individual, including any estate or trust. Repeals all tax exclusions and tax credits currently used to determine individual income tax liability. Repeals all income tax deductions, except for the standard deduction, the deduction for personal exemptions, and trade or business deductions. Directs the Secretary of the Treasury, within 90 days of this Act's enactment, to submit to a specified congressional committee a draft of conforming and technical changes in the Internal Revenue Code that would be required to reflect the changes made by this Act.

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Timeline

1. 18 April 1988

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 18 April 1988

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 April 1988

   Introduced

   Introduced in House

   Source: IntroReferral

4. 28 April 1988

   Referred

   Referred to Subcommittee on Trade.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 18 April 1988

  Open at official source

Sponsors

• Rep. Dreier, David [R-CA-26] · R · Sponsor
• · hswm00 · Standing

Related records

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