GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2017, except for self-employment taxes, Federal Insurance Contributions Act (FICA) taxes, and railroad retirement taxes.
Requires a two-thirds majority vote in Congress to change such termination date.
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, 2017.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.