US HB462 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Republican 53-1)
Status: Introduced on January 26 2011 - 25% progression, died in committee
Action: 2011-01-26 - Referred to House Rules
Pending: House Rules Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 26 2011 - 25% progression, died in committee
Action: 2011-01-26 - Referred to House Rules
Pending: House Rules Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2015, except for self-employment taxes, Federal Insurance Contributions Act (FICA) taxes, and railroad retirement taxes. Requires a two-thirds majority vote in Congress to change such termination date. 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, 2015.
Title
Tax Code Termination Act
Sponsors
History
Date | Chamber | Action |
---|---|---|
2011-01-26 | House | Referred to House Rules |
2011-01-26 | House | Referred to House Ways and Means |
2011-01-26 | House | Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
2011-01-26 | House | Sponsor introductory remarks on measure. (CR E130) |
Subjects
Economic performance and conditions
Employment taxes
Financial services and investments
Income tax rates
Legislative rules and procedure
Tax administration and collection, taxpayers
Tax reform and tax simplification
Tax treatment of families
Taxation
Employment taxes
Financial services and investments
Income tax rates
Legislative rules and procedure
Tax administration and collection, taxpayers
Tax reform and tax simplification
Tax treatment of families
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/house-bill/462/all-info |
Text | https://www.congress.gov/112/bills/hr462/BILLS-112hr462ih.pdf |