Republicans push for IRS and federal income tax abolition

The IRS and the federal income tax could be repealed by legislation soon to be proposed by Republicans in Congress. Both will be replaced by a simple national consumption tax.

Rep. Buddy Carter (R-GA) on Wednesday will introduce the Fair Taxation Act (pdf), a bill that would eliminate income tax, death tax, gift and payroll and replace the system with a national sales tax, a plan that proponents say , simplify the tax code and do away with the need for an IRS.

“Instead of adding 87,000 new agents to arm the IRS against America’s small business owners and mid-levels, this bill would completely eliminate the need for a department by simplifying the tax code with provisions that work for the American people and encourage growth and innovation.” – Carter . said in a statement on Tuesday. “Armed, unelected bureaucrats shouldn’t have more power over your paycheck than you.”

Carter originally introduced the bill in January 2021, with the House of Representatives under Democratic control. Initial co-sponsors included several other GOP congressmen, including Representatives Andrew Clyde (R-Georgia), Jeff Duncan (RSC), Thomas Massey (R-Calif.), and Gary Palmer (R-Alabama).

Rep. Bob Good (R-Virginia), another co-founder, said it would strengthen the US economy because it “encourages work, savings, and investment.”

According to Fox News, Speaker of the House Kevin McCarthy (R-Calif.) agreed to allow the bill to be voted on as part of an agreement with the House Freedom Caucus to win his support and become Speaker of the House. However, political scientists believe that the Fair Taxation Act has little chance of becoming law because it will not win enough votes in the Democratic-controlled Senate.

Meanwhile, it came shortly after the GOP-led House of Representatives voted 221-210 on a partisan basis to cut most of the $80 billion allocated to the Democratic IRS in 2022. Experts say it’s unlikely that tens of billions of dollars will be canceled after the initiative failed to win enough votes in the Democratic-controlled Senate.

New data from the Syracuse University Transaction Record Access Clearinghouse (TRAC) shows that Biden’s IRS expansion is primarily targeting low-income taxpayers, not millionaires and billionaires.

While flat taxes – whether on income or on consumption – have been praised by many conservative economists, they have also warned that policymakers need to cut spending to prevent large budget deficits. Last year, the US government spent $6.27 trillion, and this year Washington is ready to spend about another $6 trillion.

– Telegraph services