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S 747 110th Congress Senate

Tax Code Termination Act

Official title: A bill to terminate the Internal Revenue Code of 1986, and for other purposes.

Introduced: March 14, 2007 See on congress.gov
Taxation CapitalCapital investmentsCommerceCongress
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Congressional reporting requirementsEconomics and Public FinanceFamiliesFederal advisory bodiesFinance and Financial SectorGovernment Operations and PoliticsIncome taxInternal revenue lawLabor and EmploymentLegislationProgressive taxationSaving and investmentTax administrationTax incidenceTax ratesTax simplificationTaxpayer compliance
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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 2, 2007
Read twice and referred to the Committee on Finance.
Mar 2, 2007
Sponsor introductory remarks on measure. (CR S2560-2561)
Mar 2, 2007
Introduced in Senate
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 Latest action March 2, 2007

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2010, except provisions of such Code relating to social security taxation (i.e., taxes on wage, self-employment, and railroad retirement income).

Establishes within the legislative branch a National Commission on Tax Reform and Simplification. Directs the Commission to: (1) review the Internal Revenue Code of 1986 and its impact on the economy, families, and the workforce: (2) determine whether the current income tax system can be replaced by more a more efficient and fair system of taxation; and (3) submit a report to Congress on the results of its review with recommendations for fundamental reform and simplification of the Code.

Requires congressional approval of a new federal tax system no later than July 4, 2010, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 3
R
Cornyn, John
Texas · Nov 16, 2007
DeMint, James
· May 10, 2007
Vitter, David
· Mar 14, 2007
 R
Crapo, Mike
Idaho · Mar 2, 2007
 R
Graham, Lindsey
South Carolina · Mar 2, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 747: Tax Code Termination Act. 110th Congress. Open America. https://openamerica.io/bill/110-S-747/
MLA
"S. 747: Tax Code Termination Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-747/.
Bluebook (legal)
S. 747, 110th Cong. (2026), https://openamerica.io/bill/110-S-747/.
Markdown link
[S. 747: Tax Code Termination Act](https://openamerica.io/bill/110-S-747/)
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