Tax Code Termination Act

Summary

Tax Code Termination Act - Mandates the termination of the Internal Revenue Code of 1986 after December 31, 2009, except for self-employment taxes, Federal Insurance Contributions Act taxes, and Railroad Retirement taxes. 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, 2009.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 May 2004

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 May 2004

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• Introduced in Senate

  summary · EN · 20 May 2004

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