| | | | | | |  |
H.R. 25: | Fair Tax Act of 2009 | 111th Congress 2009-2010 |
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. OverviewSponsor: | | Text: | Summary
|
Full Text | Status: |  | Introduced | Jan 6, 2009 | | Referred to Committee | View Committee Assignments |  | Reported by Committee | ... | | House Vote | ... | | Senate Vote | ... | | Signed by President | ... |
This bill is in the first step in the legislative process. Introduced
bills and resolutions first go to committees that deliberate, investigate, and revise
them before they go to general debate. The majority of bills and resolutions never make it out of committee.
[Last Updated: Nov 13, 2009 10:56AM] | Last Action: | Jan 6, 2009:
Referred to the House Committee on Ways and Means. | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. |
|
Question & Answer 
Can you answer any of these questions posed by other users? Think of it as a civic good deed.
See 3 more questions posed on this topic or submit your own question on the Q&A page.
Aug 18, 2009 4:29 PM - Are the life insurance death benefit paid to heirs or the life insurance premiums paid to the insurance company subject to taxation of any kind under the terms of this bill? -
Read AnswersAnswered by a visitor on Oct 28, 2009 9:36 AM -
From www.fairtax.org/site/DocServer/The_FairTax_treatment_of_insurance.doc?docID=2862 "Under the current system, the entire premium is paid with after-tax dollars. Only the "insurance" component of the premium is taxed dollars under the FairTax. Under the current system, insurance cash values grow tax deferred. They grow tax free under the FairTax. Under the current system, cash values are taxed upon withdrawal. They are withdrawn tax free under the FairTax. Under the current system, benefits received are tax free today (if the premium was taxed). They are paid tax free under the FairTax." Nov 14, 2009 7:51 AM - Would the Fair Tax be regressive towards undocumented non US citizens? -
Read AnswersAnswered by a visitor on Nov 16, 2009 10:08 AM -
http://www.fairtax.org/site/PageServer?pagename=about_fairtax_four#regressive "In contrast, the FairTax dramatically improves economic growth and wage rates for all, but especially for lower-income families and individuals. In addition to receiving the monthly FairTax prebate, these taxpayers are freed from regressive payroll taxes, the federal income tax, and the compliance burdens associated with each. They pay no more business taxes hidden in the price of goods and services, and used goods are tax free." Undocumented workers would not also receive the prebate given they are not US citizens and do not have social security numbers. |
Sources of InfluenceMAPLight.org reports that the following organizations
have taken a stance on this bill: | Support | Oppose |
|---|
National Small Business Association Americans for Fair Taxation National Taxpayers Union |
(none)
|
Follow the link to MAPLight.org to see if campaign contributions from employees of these organizations are correlated with how Members of Congress voted on this bill. Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see
About GovTrack.us. H.R. 25--111th Congress: Fair Tax Act of 2009.
(2009).
In GovTrack.us (database of federal legislation).
Retrieved Nov 20, 2009, from
http://www.govtrack.us/congress/bill.xpd?bill=h111-25
"H.R. 25--111th Congress: Fair Tax Act of 2009."
GovTrack.us (database of federal legislation).
2009.
Nov 20, 2009
<http://www.govtrack.us/congress/bill.xpd?bill=h111-25>
{{cite web
|url=http://www.govtrack.us/congress/bill.xpd?bill=h111-25
|title=H.R. 25
|accessdate=Nov 20, 2009
|author=111th Congress (2009)
|date=Jan 6, 2009
|work=Legislation
|publisher=GovTrack.us
|quote=Fair Tax Act of 2009
}} | | | |
| |
