To amend the Internal Revenue Code to establish a flat tax, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Dec 22, 2022)
This bill imposes a 15% flat tax on the taxable income of each individual taxpayer. It defines taxable income as the excess of the sum of wages, taxable retirement distributions, plus unemployment compensation, over the standard deduction.
The bill also imposes a 15% flat tax on business taxable income and on noncash compensation provided to employees not engaged in business activity.
The bill repeals various existing tax provisions, including the alternative minimum tax, certain tax credits, and estate and gift taxes.
What just happenedDec 22, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseDec 22, 2022
- Dec 22, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Dec 22, 2022IntroReferralIntro-H
Introduced in House
- Dec 22, 2022IntroReferral1000
Introduced in House