[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 1225 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                S. 1225

            To terminate the Internal Revenue Code of 1986.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 26, 1997

Mr. Hutchinson introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
            To terminate the Internal Revenue Code of 1986.

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

SECTION 1. TERMINATION OF INTERNAL REVENUE CODE OF 1986.

    No tax shall be imposed by the Internal Revenue Code of 1986--
            (1) for any taxable year beginning after December 31, 2001, 
        and
            (2) in the case of any tax not imposed on the basis of a 
        taxable year, on any taxable event or for any period after 
        December 31, 2001.

SEC. 2. STRUCTURE OF NEW FEDERAL TAX SYSTEM.

    The Congress hereby declares that any new Federal tax system should 
be a simple and fair system that--
            (1) applies a low rate to all Americans,
            (2) requires a supermajority of both Houses of Congress to 
        raise taxes,
            (3) provides tax relief for working Americans,
            (4) protects the rights of taxpayers and reduces tax 
        collection abuses,
            (5) eliminates the bias against savings and investment,
            (6) promotes economic growth and job creation,
            (7) does not penalize marriage or families, and
            (8) protects the integrity of Social Security and Medicare.
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