H.R.3097 - Tax Code Termination Act105th Congress (1997-1998)
|Sponsor:||Rep. Largent, Steve [R-OK-1] (Introduced 01/27/1998)|
|Committees:||House - Ways and Means | Senate - Finance|
|Latest Action:||06/18/1998 Received in the Senate and read twice and referred to the Committee on Finance.|
|Major Recorded Votes:||06/17/1998 : Passed House|
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Summary: H.R.3097 — 105th Congress (1997-1998)All Bill Information (Except Text)
Passed House amended (06/17/1998)
Tax Code Termination Act - Prohibits the imposition of any tax by the Internal Revenue Code: (1) for any taxable year beginning after December 31, 2002; 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, 2002. 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).
Declares that any new Federal tax system should be: (1) a simple and fair system; and (2) approved by the Congress in its final form no later than July 4, 2002.