H.R. 2714 (107th): Date Certain Tax Code Replacement Act

Introduced:
Aug 02, 2001 (107th Congress, 2001–2002)
Sponsor:
Rep. Steve Largent [R-OK1]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on August 2, 2001, in a previous session of Congress, but was not enacted.

Progress
Introduced Aug 02, 2001
Cosponsors
149 cosponsors (146R, 1I, 1D, 1I) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To terminate the Internal Revenue Code of 1986.

Summary

No summaries available.

Text

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Last updated Aug 02, 2001.
14 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

8/2/2001--Introduced.
Date Certain Tax Code Replacement Act - Prohibits the imposition of any tax by the Internal Revenue Code: (1) for any taxable year beginning after December 31, 2005; 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, 2005. Excepts the: (1) tax on self-employment income (chapter 2 of the Code); (2) Federal Insurance Contributions Act (chapter 21 of the Code); and (3) Railroad Retirement Tax Act (chapter 22 of the Code).
Establishes the National Commission on Tax Reform and Simplification to review: (1) the present structure and provisions of the Code; (2) whether the tax systems of other countries could provide more efficient and fair methods of funding government revenue requirements; (3) whether the income tax should be replaced with a tax imposed in a different manner or on a different base; and (4) whether the Code can be simplified, absent wholesale restructuring or replacement. Requires a Commission report to Congress on review results, with recommendations for Code reform and simplification. Terminates the Commission 90 days after such report.
Authorizes appropriations (with interim funding).
Declares that any new Federal tax system should be approved by Congress in its final form before July 4, 2005, and, if not, Congress should be required to vote to reauthorize the Code.

House Republican Conference Summary

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House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)