WASHINGTON, D.C. – GOP members of the House of Representatives have introduced legislation that, if successfully passed by a vote, would abolish both the Internal Revenue Service (IRS) and entire overall concept of a national income tax, instead substituting a national consumption tax for the federal government to draw revenue from.
The Fair Tax Act bill, introduced by Rep. Buddy Carter (R-GA), will be brought to a vote in the House as part of the deal struck between a group of ultraconservative Republican holdouts and Rep. Kevin McCarthy (R-CA) in order for him to gain enough votes to elect him as the new House Majority Speaker.
Carter, in a statement released announcing his bill, made reference to the new GOP-controlled Congress’ first order of business, announced on Monday: to repeal $80 billion in Democrat funding for the IRS to hire new employees and agents, as well as upgrading the agency’s outdated infrastructure.
“Cosponsoring this Georgia-made legislation was my first act as a Member of Congress and is, fittingly, the first bill I am introducing in the 118th Congress,” Carter said. “Instead of adding 87,000 new agents to weaponize the IRS against small business owners and middle America, this bill will eliminate the need for the department entirely by simplifying the tax code with provisions that work for the American people and encourage growth and innovation.”
If passed – the chances of which are currently unknown, as Democrats still control the Senate – the bill would eliminate the IRS entirely, as well as national personal and corporate income taxes; instead, a national sales tax – known as a “consumption tax” – would be implemented.
In addition, death, gift, and payroll taxes would be abolished as well.