Summary: H.R.1041 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for H.R.1041. Bill summaries are authored by CRS.

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Introduced in House (03/09/1999)

Date Certain Tax Code Replacement 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.