[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 853 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 853

  To direct the Comptroller General of the United States to study the 
effect that a tax system comprised of a 10 percent Federal consumption 
tax and a 10 percent flat Federal income tax would have on the Federal 
               Government and the United States economy.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 26, 1997

Mr. Traficant introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To direct the Comptroller General of the United States to study the 
effect that a tax system comprised of a 10 percent Federal consumption 
tax and a 10 percent flat Federal income tax would have on the Federal 
               Government and the United States economy.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. STUDY OF TAX SYSTEM COMPRISED OF CONSUMPTION TAX AND FLAT 
              INCOME TAX.

    (a) In General.--The Comptroller General of the United States shall 
study the effect that a tax system comprised of a 10 percent Federal 
consumption tax and a 10 percent flat Federal income tax would have 
on--
            (1) revenues to the United States Government, including the 
        effect on the annual budget deficit, and
            (2) the economy of the United States.
    (b) Matters Affecting the Study.--In conducting the study under 
subsection (a), the Comptroller General shall assume no exclusions, 
deductions, or credits other than those in connection with a trade or 
business and the standard deduction, the personal exemption, interest 
on indebtedness to acquire a principal residence, and payments made for 
college tuition.
    (c) Variance of Rates.--For purposes of paragraphs (1) and (2) of 
subsection (a), the Comptroller General shall also study the effect if 
the rates of tax referred to in subsection (a) are varied over time but 
raise the same revenue as the tax system in effect on the date of the 
enactment of this Act.
    (d) Submission to Congress.--Not later than one year after the date 
of the enactment of this Act, the Comptroller General shall submit to 
the Congress a report concerning the study under subsection (a).
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