Rep. Barry Moore (R-Enterprise) wants to reform and simplify the tax code and is now cosponsoring legislation that would accomplish that.
The Fair Tax Act, introduced by Rep. Buddy Carter (R-Ga.), would abolish the Internal Revenue Service (IRS) and replace the income tax with a national sales tax.
The bill is will be voted on because of a deal made between Speaker Kevin McCarthy (R-Calif.) and members of the House Freedom Caucus.
“Instead of hiring 87,000 IRS agents to take more money from the wallets of hard-working Americans, the new House Republican majority believes in simplifying our tax code,” said Moore in a press release. “The current tax code is four times as long as the Bible, but contains none of the good news. The Fair Tax is the gold standard for tax law and would turn a convoluted, abusive and biased system into a straightforward code that works for every American.”
Included in the Fair Tax Act:
- Eliminate all personal and corporate income taxes
- Eliminate the death tax,
- Eliminate gift taxes and payroll taxes
- Repeal the current tax code and replace it with a single national consumption tax
- Abolish the Internal Revenue Service (IRS)
Yaffee is a contributing writer to Yellowhammer News and hosts “The Yaffee Program” weekdays 9-11 a.m. on WVNN. You can follow him on Twitter @Yaffee
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