Summary: H.R.6367 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.R.6367. Bill summaries are authored by CRS.

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Introduced in House (12/05/2006)

Tax Code Termination Act - Mandates the termination of the Internal Revenue Code after December 31, 2010, except for self-employment taxes, Federal Insurance Contributions Act taxes, and Railroad Retirement taxes.

Declares that any new federal tax system should be a simple and fair system that: (1) provides tax relief for working Americans; (2) protects the rights of taxpayers and reduces tax collection abuses; (3) eliminates the bias against savings and investment; (4) promotes economic growth and job creation; and (5) does not penalize marriage or families.

Requires that the new federal tax system be approved by Congress in its final form by July 4, 2010.