3.0.0 2856 2019-11-15T21:57:49Z 2019-11-15T21:57:49Z Senate S S 2008-04-15 110 ssfi00 Finance Committee Senate Standing Referred to 2008-04-15T18:53:18Z Freedom Flat Tax Act 110 1040 HR 2007-03-05 Sponsor introductory remarks on measure. (CR H2160-2162) Related bill CRS 2008-04-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2008-04-15 Introduced in Senate IntroReferral 10000 9 Library of Congress 2008-04-14 Sponsor introductory remarks on measure. (CR S2959-2960) IntroReferral B00100 9 Library of Congress A000360 Sen. Alexander, Lamar [R-TN] Lamar Alexander R TN N 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 State employees Tax administration Tax credits Tax deductions Tax rates Tax-exempt organizations Unemployment insurance Wages Taxation 00 2008-04-15 Introduced in Senate 2008-05-19T15:03:19Z 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.

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.]]>

Optional One Page Flat Tax Act Short Titles as Introduced Optional One Page Flat Tax Act Display Title Optional One Page Flat Tax Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide taxpayers a flat tax alternative to the current income tax system. Introduced in Senate 2008-04-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2856is/xml/BILLS-110s2856is.xml 2008-04-15 Read twice and referred 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.