Bill > HR25

This bill proposes to promote freedom, fairness, and economic opportunity by repealing the income tax, payroll taxes, and estate and gift taxes, and enacting a national sales tax to be administered primarily by the States. The key provisions of this bill include: - Repealing the income tax, payroll taxes, and estate and gift taxes under the Internal Revenue Code. - Enacting a 23% national sales tax on the use or consumption of taxable property or services in the United States. - Allowing credits for business use, intermediate and export sales, administration costs, bad debts, and insurance proceeds related to the sales tax. - Providing a family consumption allowance to qualified families to help offset the sales tax. - Allowing States to collect and administer the national sales tax, with the federal government providing administrative support. - Phasing out the administration of the repealed federal taxes by 2027 and establishing new bureaus within the Department of the Treasury to administer remaining federal taxes and the national sales tax. - Indexing Social Security benefits to account for the national sales tax. - Providing that the sales tax provisions will be eliminated if the 16th Amendment is not repealed within 7 years after enactment. The bill aims to promote economic growth, fairness, and simplicity by moving from an income-based tax system to a consumption-based tax system.

Budget and Finance

https://www.congress.gov/bill/118th-congress/house-bill/25/all-info