H.R. 25: ABOLISHES THE INCOME TAX & THE IRS *LINK*

Subject: 
H.R. 25: ABOLISHES THE INCOME TAX & THE IRS *LINK*
Posted By: 
TNT MadDog
Date: 
Wednesday, January 24, 2007 07:16 pm

\"H.R.25
Title: To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States. Sponsor: Rep Linder, John [GA-7] (introduced 1/4/2007) Cosponsors (35)
Latest Major Action: 1/4/2007 Referred to House committee. Status: Referred to the House Committee on Ways and Means.

SUMMARY AS OF:
1/4/2007--Introduced.

Fair Tax Act of 2007- Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2007.

Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23 percent in 2009, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for State government functions.\"

The entire Bill should be read at the source, where the embedded links are working. The link below takes you to a query page. Scroll down until you find the little drop-down box called \"Enter Search\" in blue print. Select \"Bill Number\" and type \"H.R. 25\" in the box underneath. Then go to the bottom of the page and hit \"Search\".