S.1673 - Tax Code Termination Act105th Congress (1997-1998)
|Sponsor:||Sen. Hutchinson, Tim [R-AR] (Introduced 02/25/1998)|
|Committees:||Senate - Finance|
|Latest Action:||02/25/1998 Referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.1673 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in Senate (02/25/1998)
Tax Code Termination Act - Prohibits the imposition of any tax by the Internal Revenue Code: (1) for any taxable year beginning after December 31, 2001; 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, 2001. 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 a simple and fair system.