3.0.0 2182 2023-01-13T04:49:15Z 2023-01-13T04:49:15Z Senate S S 2006-01-20 109 ssfi00 Finance Committee Senate Standing Referred to 2006-01-20T16:57:16Z Date Certain Tax Code Replacement Act 109 2122 S 2005-12-16 Read twice and referred to the Committee on Finance. Related bill CRS 2006-01-20 ssfi00 Finance Committee Senate Read twice and referred, under authority of the order of the Senate of Jan. 18, 2006, to the Committee on Finance. IntroReferral 2006-01-20 Introduced in Senate IntroReferral 10000 9 Library of Congress I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA N G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2006-01-27 False A000109 Sen. Allard, Wayne [R-CO] A. ALLARD R CO WAYNE 2006-02-01 False D000595 Sen. DeMint, Jim [R-SC] James DeMint R SC W. 2006-02-01 False I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2006-02-01 False V000127 Sen. Vitter, David [R-LA] David Vitter R LA 2006-02-01 False C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID 2006-02-02 False C000286 Sen. Chambliss, Saxby [R-GA] SAXBY CHAMBLISS R GA 2006-02-16 False Taxation Capital Capital investments Commerce Congress Congressional reporting requirements Economics and Public Finance Families Federal advisory bodies Finance and Financial Sector Government Operations and Politics Income tax Internal revenue law Labor and Employment Legislation Progressive taxation Saving and investment Tax administration Tax incidence Tax rates Tax simplification Taxpayer compliance Taxation 00 2006-01-20 Introduced in Senate 2006-02-03T15:19:57Z Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2008, 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, 2008, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.

]]> Tax Code Termination Act Display Title Tax Code Termination Act Official Title as Introduced A bill to terminate the Internal Revenue Code of 1986, and for other purposes. Introduced in Senate IS Short Titles as Introduced Tax Code Termination Act Introduced in Senate 2006-01-20T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s2182is/xml/BILLS-109s2182is.xml 2006-01-20 Read twice and referred, under authority of the order of the Senate of Jan. 18, 2006, to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.