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]

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.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Tax Code Termination Act

Sponsors


History

DateChamberAction
2011-01-26HouseReferred to House Rules
2011-01-26HouseReferred to House Ways and Means
2011-01-26HouseReferred 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.
2011-01-26HouseSponsor introductory remarks on measure. (CR E130)

Subjects


US Congress State Sources


Bill Comments

feedback