Skip to main content
HR 1040 110th Congress House Taxation Annuities Commerce Congress Congressional voting Estate tax Families Federal employees Flat-rate tax Gift tax Government Operations and Politics Income tax Inheritance tax Labor and Employment Legislation Legislative amendments Legislative resolutions Local employees Married people Minimum tax

Freedom Flat Tax Act

Introduced: February 14, 2007 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 2007
Sponsor introductory remarks on measure. (CR H2160-2162)
Feb 14, 2007
Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Feb 14, 2007
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service
Freedom Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing tax provisions) of 19% for the first two years after an election is made, and 17% thereafter.

Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs.

Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter.

Repeals the estate, gift, and generation-skipping transfer taxes.

Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.

What's happening now March 5, 2007

Sponsor introductory remarks on measure. (CR H2160-2162)

 Related & companion bills 1
  • S 2856 Related bill Optional One Page Flat Tax Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Republican 2
R
Cole, Tom
Oklahoma · Apr 14, 2008
 R
McCaul, Michael T.
Texas · Apr 14, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1040: Freedom Flat Tax Act. 110th Congress. Open America. https://openamerica.io/bill/110-HR-1040/
MLA
"H.R. 1040: Freedom Flat Tax Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-1040/.
Bluebook (legal)
H.R. 1040, 110th Cong. (2026), https://openamerica.io/bill/110-HR-1040/.
Markdown link
[H.R. 1040: Freedom Flat Tax Act](https://openamerica.io/bill/110-HR-1040/)
Report a problem