He fair tax lawA proposal by Rep. Earl L. “Buddy” Carter (R-GA) would ban income, payroll, estate, and gift taxes, instead opting for a flat-rate 23% sales tax on the whole country.
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The proposal would also eliminate funding for the Internal Revenue Service (IRS) after fiscal year 2027.
Ironically, the IRS received $80 billion in additional funding as part of the Democrat-backed Reduced Inflation Bill. The funds were used to hire additional staff and upgrade technology ahead of the current tax filing season, which officially began Jan. 23.
the washington post shared the Capitol Hill talk about the divisive bill.
“You could really see … what you’re really making each week in your paycheck,” Rep. Andrew S. Clyde (R-GA), a supporter of the bill, said earlier this month.
Yet just this week, House Speaker Kevin McCarthy (R-CA) appeared to respond to a question about whether he supported the Fair Tax Act by curtly saying, “No.”
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Additionally, at a joint press conference on Wednesday, January 25, Senate Majority Leader Charles E. Schumer (D-NY) and House Minority Leader Hakeem Jeffries (D-NY) publicly opposed to the Fair Tax Act, saying it would result in “dramatic taxes.” tax increases for nearly all Americans.
It’s also worth noting that McCarthy isn’t the only Republican to oppose the bill.
For The hillHouse Majority Leader Steve Scalise (R-LA) does not support passage of the Fair Tax Act. “I don’t think it’s a smart thing to do,” Rep. Don Bacon (R-NE).
For the time being, until the bill comes to a vote, the scattered GOP support for the bill is causing great tension on Capitol Hill.
What do you think about the Fair Tax Act?
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