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

Introduced:
Jul 30, 2003 (108th Congress, 2003–2004)
Status:
Died (Referred to Committee)
Sponsor
Saxby Chambliss
Senator from Georgia
Party
Republican
Text
Read Text »
Last Updated
Jul 30, 2003
Length
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

 
Status

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

Progress
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.

Summary

No summaries available.

Cosponsors
1 cosponsors (1D) (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)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

Widget

Get a bill status widget for your website »

Citation

Click a format for a citation suggestion:

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.


7/30/2003--Introduced.
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

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.

Use the comment space below for discussion of the merits of S. 1493 (108th) with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus