S. 1493 (108th): Fair Tax Act of 2003

Jul 30, 2003 (108th Congress, 2003–2004)
Died (Referred to Committee)
Saxby Chambliss
Senator from Georgia
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Last Updated
Jul 30, 2003
132 pages
Related Bills
S. 25 (109th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Jan 24, 2005

H.R. 25 (identical)

Referred to Committee
Last Action: Jan 07, 2003


This bill was introduced on July 30, 2003, in a previous session of Congress, but was not enacted.

Introduced Jul 30, 2003
Referred to Committee Jul 30, 2003
Full Title

A bill 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.


No summaries available.

1 cosponsors (1D) (show)

Senate Finance

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Primary Source

THOMAS.gov (The Library of Congress)

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S. stands for Senate bill.

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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.

Fair Tax Act of 2003 - Amends the Internal Revenue Code to repeal subtitle A (Income Taxes), B (Estate and Gift Taxes), and C (Employment Taxes) of the Internal Revenue Code.Imposes a tax on the use or consumption in the United States of taxable property or services.
Sets the tax rate at 23 percent for the calendar year 2005.
Sets the rate, for years after 2005, at the combined sum of the general revenue rate (14.91 percent), the old-age survivors and disability rate, and the hospital insurance rate.Sets forth provisions concerning, among other things;
(1) imports and exports;
(2) definitions;
(3) credits and refunds;
(4) a "family consumption allowance";
(5) Federal and State cooperative tax administration;
(6) administrative matters;
(7) collections, appeals, and taxpayer rights;
(8) special rules (hobbies, gaming, government purchases, non-profits, and etc.);
(9) financial intermediation services; and
(10) additional matters.Sets forth provisions concerning the:
(1) phase-out of administration of repealed taxes;
(2) administration of other taxes (establishes an Excise Tax Bureau and a Sales Tax Bureau); and
(3) sales tax inclusive social security benefits indexation.

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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