Home > Legislation > 109th Congress > S.2182

S.2182 - Tax Code Termination Act109th Congress (2005-2006)

Bill

Hide Overview
Sponsor: Sen. Isakson, Johnny [R-GA] (Introduced 01/20/2006)
Committees: Senate - Finance
Latest Action: Senate - 01/20/2006 Read twice and referred, under authority of the order of the Senate of Jan. 18, 2006, to the Committee on Finance.  (All Actions)

Tracker:

This bill has the status Introduced

Here are the steps for Status of Legislation:

  1. Introduced

More on This Bill

  • CBO Cost Estimates [0]

Subject — Policy Area:

Summary: S.2182 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for S.2182. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (01/20/2006)

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2008, except provisions of such Code relating to social security taxation (i.e., taxes on wage, self-employment, and railroad retirement income).

Establishes within the legislative branch a National Commission on Tax Reform and Simplification. Directs the Commission to: (1) review the Internal Revenue Code of 1986 and its impact on the economy, families, and the workforce: (2) determine whether the current income tax system can be replaced by more a more efficient and fair system of taxation; and (3) submit a report to Congress on the results of its review with recommendations for fundamental reform and simplification of the Code.

Requires congressional approval of a new federal tax system no later than July 4, 2008, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.