Official Title of Legislation:
HR 3097: To terminate the Internal Revenue Code of 1986.
Project Vote Smart's Synopsis:
Vote to pass a bill requiring Congress to approve of a new Federal tax system by July 4, 2002.
Highlights:
- Prohibits the Federal Government from imposing taxes using the Internal Revenue Code of 1986 after December 31, 2002, except in certain cases
- States that any new Federal tax system should be simple and fair
- Suggests the new tax system should: apply a low rate, provide tax relief to working Americans, reduce tax collection abuses, eliminate bias against savings and investment, promote economic growth and job creation, and should not penalize families
House Passage Vote: 6/17/1998: Passed: 219 - 209 (Roll no. 239).
Senate Passage Vote: 6/18/1998: No vote taken; Referred to the Senate Committee on Finance.
Last Updated: 6/29/2005
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