Tax Code Termination Act

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2009, except for self-employment taxes, Federal Insurance Contributions Act taxes, and Railroad Retirement taxes.

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.

Requires that the new federal tax system be approved by Congress in its final form by July 4, 2009.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4725 Introduced in House (IH)]







109th CONGRESS
  2d Session
                                H. R. 4725

            To terminate the Internal Revenue Code of 1986.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 8, 2006

Mr. Goodlatte (for himself, Mr. Peterson of Minnesota, Mr. Neugebauer, 
 Mrs. Jo Ann Davis of Virginia, Mr. Tancredo, Mr. Hefley, Mr. Bartlett 
of Maryland, Mrs. Biggert, Mr. Goode, Mr. Mica, Mr. Sensenbrenner, Mr. 
Tiahrt, Mr. Barrett of South Carolina, Mr. Chocola, Mr. Bonner, and Mr. 
 Hostettler) introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
            To terminate the Internal Revenue Code of 1986.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Code Termination Act''.

SEC. 2. TERMINATION OF INTERNAL REVENUE CODE OF 1986.

    (a) In General.--No tax shall be imposed by the Internal Revenue 
Code of 1986--
            (1) for any taxable year beginning after December 31, 2009; 
        and
            (2) in the case of any tax not imposed on the basis of a 
        taxable year, on any taxable event or for any period after 
        December 31, 2009.
    (b) Exception.--Subsection (a) shall not apply to taxes imposed 
by--
            (1) chapter 2 of such Code (relating to tax on self-
        employment income);
            (2) chapter 21 of such Code (relating to Federal Insurance 
        Contributions Act); and
            (3) chapter 22 of such Code (relating to Railroad 
        Retirement Tax Act).

SEC. 3. NEW FEDERAL TAX SYSTEM.

    (a) Structure.--The Congress hereby 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.
    (b) Timing of Implementation.--In order to ensure an easy 
transition and effective implementation, the Congress hereby declares 
that any new Federal tax system should be approved by Congress in its 
final form no later than July 4, 2009.
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