S 627
106th Congress
Senate
Taxation
Business income tax
Commerce
Congress
Economic growth
Economics and Public Finance
Estate tax
Excise tax
Families
Finance and Financial Sector
Gift tax
Income tax
Inheritance tax
Job creation
Labor and Employment
Legislation
Marriage
Married people
Personal income tax
Saving and investment
Tax Code Termination Act
Introduced: March 16, 1999
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 16, 1999
Read twice and referred to the Committee on Finance.
Mar 16, 1999
Introduced in Senate
Plain-English summary
Tax Code Termination Act Declares that no tax (except the tax on self-employment income and the taxes relating to the Federal Insurance Contributions Act and the Railroad Retirement Tax Act) shall be imposed by the Internal Revenue Code for any taxable year beginning after, or on any taxable event or for any period after, December 31, 2003.
Declares that any new Federal tax system should be: (1) simple and fair; (2) apply a low rate to all Americans; (3) provide tax relief for working Americans; (4) protect the rights of taxpayers and reduce tax collection abuses; (5) eliminate the bias against savings and investment; (6) promote economic growth and job creation; (7) not penalize marriage or families; and (8) receive congressional approval in its final form by July 4, 2003.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1