Bill113th Congress

H.R. 1040

Flat Tax Act

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Introduced
Mar 11, 2013
Origin Chamber
House
Policy Area
Taxation
Latest Action
Mar 11, 2013
Latest Action

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.

Sponsor

Rep. Burgess, Michael C. [R-TX-26]

Republican·TX-26
Bioguide ID: B001248
First Name: Michael
Middle Name: C.
Last Name: Burgess
By Request: N
11
Cosponsors
2
Committees
4
Actions
0
Amendments
5
Related Bills
6
Subjects
1
Summaries
3
Titles
1
Text Versions

Bill Details

Update Date
Nov 15, 2022
Origin Chamber
House
Bill Type
HR
Bill Number
1,040
Congress
113
Introduced Date
Mar 11, 2013
Policy Area
Taxation
Is Law
No
Mar 11, 2013IntroReferralH11100

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.

Source: House floor actions

Mar 11, 2013IntroReferralH11100

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.

Source: House floor actions

Mar 11, 2013IntroReferralIntro-H

Introduced in House

Source: Library of Congress

Mar 11, 2013IntroReferral1000

Introduced in House

Source: Library of Congress

Introduced in House· Mar 11, 20130
Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing income tax provisions) of 19% for the first two years after an election is made, and 17% thereafter.

Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs.

Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter.

Repeals the estate, gift, and generation-skipping transfer taxes.

Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.

Rules Committee

House· Standing

Ways and Means Committee

House· Standing
Employment taxesIncome tax deductionsIncome tax ratesLegislative rules and procedureTax reform and tax simplificationTransfer and inheritance taxes

Introduced in House

Mar 11, 2013

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