H. R. 510
IN THE HOUSE OF REPRESENTATIVES
January 17, 2007
Mr. Goodlatte (for himself, Mr. Peterson of Minnesota, Mr. King of Iowa, Mr. Mica, Mr. Putnam, Mr. Poe, Mr. Goode, Mr. McIntyre, Mr. Sensenbrenner, Mr. Jones of North Carolina, Mr. Inglis of South Carolina, Mr. Manzullo, Mr. Graves, Mr. Franks of Arizona, Mr. Miller of Florida, Mr. Hensarling, Mr. Bartlett of Maryland, Mr. McCotter, Mr. Culberson, Mrs. Drake, Mrs. Jo Ann Davis of Virginia, Mrs. Myrick, Mr. Barrett of South Carolina, Mr. Hastings of Washington, Mr. Feeney, Mr. Buyer, Mr. Carter, Mr. Mario Diaz-Balart of Florida, Mr. Conaway, Mr. Garrett of New Jersey, Mr. Wicker, Mr. Pence, Mr. Linder, Mr. Kuhl of New York, Ms. Foxx, Mr. Flake, Mr. Everett, Mrs. Cubin, Mr. Bonner, Mr. Baker, Mr. Aderholt, Mr. Bishop of Utah, Mr. Brady of Texas, Mr. Camp of Michigan, Mrs. Capito, Mr. Akin, Mr. Lucas, Mr. McKeon, Mrs. McMorris Rodgers, Mr. Shadegg, Mr. Shimkus, Mr. Wamp, Mr. Bilbray, Mr. Blunt, Mr. Boozman, Mr. Crenshaw, Mr. Doolittle, Mr. Forbes, Mr. Gingrey, Mr. Hastert, Mr. Hayes, Mr. Kline of Minnesota, Mr. Peterson of Pennsylvania, Mr. Smith of Texas, Mr. Stearns, Mr. Souder, and Mr. Price of Georgia) introduced the following bill; which was referred to the Committee on Ways and Means
To terminate the Internal Revenue Code of 1986.
This Act may be cited as the
Termination of Internal Revenue Code of 1986
No tax shall be imposed by the Internal Revenue Code of 1986—
for any taxable year beginning after December 31, 2010; and
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, 2010.
Subsection (a) shall not apply to taxes imposed by—
chapter 2 of such Code (relating to tax on self-employment income);
chapter 21 of such Code (relating to Federal Insurance Contributions Act); and
chapter 22 of such Code (relating to Railroad Retirement Tax Act).
New Federal tax system
The Congress hereby declares that any new Federal tax system should be a simple and fair system that—
applies a low rate to all Americans;
provides tax relief for working Americans;
protects the rights of taxpayers and reduces tax collection abuses;
eliminates the bias against savings and investment;
promotes economic growth and job creation; and
does not penalize marriage or families.
Timing of Implementation
In order to ensure an easy transition and effective implementation, the Congress hereby declares that any new Federal tax system should be approved by Congress in its final form no later than July 4, 2010.