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S 3047 111th Congress Senate Taxation Advisory bodies Business investment and capital Economic performance and conditions Income tax rates Small business Tax administration and collection, taxpayers Tax reform and tax simplification Tax treatment of families

Tax Code Termination Act

Introduced: February 25, 2010 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2010
Read twice and referred to the Committee on Finance.
Feb 25, 2010
Introduced in Senate
 Plain-English summary Congressional Research Service

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2013, 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 should be replaced with a flat tax, a national sales tax, or another system, or can be simplified; 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, 2013, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.

What's happening now February 25, 2010

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2