[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 141 Referred in Senate (RFS)]

  1st Session
H. CON. RES. 141


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                   IN THE SENATE OF THE UNITED STATES

                             April 10, 2003

           Received and referred to the Committee on Finance

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
Expressing the sense of the Congress that the Internal Revenue Code of 
 1986 should be fundamentally reformed to be fairer, simpler, and less 
   costly and to encourage economic growth, individual liberty, and 
                      investment in American jobs.

Whereas the Internal Revenue Code of 1986 is overly complex, and imposes 
        significant burdens on individuals, businesses, and the economy;
Whereas the complexity of the Internal Revenue Code of 1986 makes the Code 
        extremely difficult and costly to administer and to comply with;
Whereas recent reports estimate that 1 in 4 Americans are out of compliance with 
        the Code and that the Internal Revenue Service provides the wrong answer 
        nearly half the time through its telephone information program;
Whereas in 2001 the Internal Revenue Service spent $8,900,000,000 to administer 
        the current system while American taxpayers spent an estimated 
        $135,000,000,000 and 3,000,000,000 hours, more than a full day for each 
        return, to comply;
Whereas the Code imposes multiple layers of taxation and hides the true cost of 
        taxes in the price of goods and service;
Whereas the Code penalizes investment, discourages the flow of capital into our 
        domestic economy, drives businesses to consider moving investment and 
        jobs to foreign locations, and disadvantages domestically produced goods 
        and services in international markets;
Whereas the Code disincentivizes work, savings, and investment by individuals 
        and families;
Whereas the Code is riddled with decades of loopholes, special interest 
        exemptions, and contradictions which make the Code confusing, costly, 
        and unfair;
Whereas the Department of the Treasury estimates that approximately 
        $70,000,000,000 in taxable income remains untaxed in off-shore accounts;
Whereas on April 13, 2000, the House of Representatives passed, by a vote of 229 
        yeas and 187 nays, House Resolution 4199, calling for replacement of the 
        Internal Revenue Code not later than December 31, 2004; and
Whereas the most recent Economic Report of the President states that ``the 
        current tax system also causes households and businesses to rearrange 
        their affairs in a number of ways that make poor use of economic 
        resources, leading to substantial economic waste and, ultimately, 
        reducing real incomes'': Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring), 
That the Congress--
            (1) encourages and supports a national debate on 
        fundamental reform of the Internal Revenue Code of 1986;
            (2) agrees with the most recent Economic Report of the 
        President which identifies reducing complexity, improving 
        economic incentives, and achieving fairness, as key objectives 
        of fundamentally reforming such Code; and
            (3) as part of this national debate, will begin a series of 
        hearings to examine the case for, and the possible options for, 
        fundamental reform of such Code.

            Passed the House of Representatives April 10, 2003.

            Attest:

                                                 JEFF TRANDAHL,

                                                                 Clerk.