Tax Code Termination Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jan 3, 2017)
Tax Code Termination Act
This bill terminates the Internal Revenue Code of 1986 after December 31, 2021, except for self-employment taxes, Federal Insurance Contributions Act (FICA) taxes, and railroad retirement taxes. A two-thirds majority vote in Congress is required to change such termination date.
The bill 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.
The new federal tax system must be approved by Congress in its final form by July 4, 2021.
What just happenedJan 3, 2017
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.
Who’s behind it
- Introduced in HouseJan 3, 2017
- Jan 3, 2017IntroReferralH11100
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.
Rules Committee - Jan 3, 2017IntroReferralH11100-A
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.
- Jan 3, 2017IntroReferralH11100
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.
Ways and Means Committee - Jan 3, 2017IntroReferralIntro-H
Introduced in House
- Jan 3, 2017IntroReferral1000
Introduced in House