Tax Code Termination Act

Summary

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2013, except provisions of such Code relating to social security taxation (i.e., taxes on wage, self-employment, and railroad retirement income). Establishes within the legislative branch a National Commission on Tax Reform and Simplification. Directs the Commission to: (1) review the Internal Revenue Code of 1986 and its impact on the economy, families, and the workforce: (2) determine whether the current income tax system should be replaced with a flat tax, a national sales tax, or another system, or can be simplified; and (3) submit a report to Congress on the results of its review, with recommendations for fundamental reform and simplification of the Code. Requires congressional approval of a new federal tax system no later than July 4, 2013, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 February 2010

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 February 2010

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• Introduced in Senate

  summary · EN · 25 February 2010

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