S. 2450 (106th): Date Certain Tax Code Replacement Act

Introduced:
Apr 13, 2000 (106th Congress, 1999–2000)
Status:
Died (Referred to Committee)
Sponsor
Tim Hutchinson
Senator from Arkansas
Party
Republican
Text
Read Text »
Last Updated
Apr 13, 2000
Length
14 pages
Related Bills
H.R. 4230 (identical)

Referred to Committee
Last Action: Apr 11, 2000

 
Status

This bill was introduced on April 13, 2000, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 13, 2000
Referred to Committee Apr 13, 2000
 
Full Title

A bill to terminate the Internal Revenue Code of 1986.

Summary

No summaries available.

Cosponsors
2 cosponsors (2R) (show)
Committees

Senate Finance

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


4/13/2000--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, 2004; 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, 2004.
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, 2004, and, if not, Congress should be required to vote to reauthorize the Code.

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

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