II 112th CONGRESS 1st Session S. 7 IN THE SENATE OF THE UNITED STATES January 25 (legislative day, January 5), 2011 Mr. Reid (for himself, Mr. Durbin, Mr. Brown of Ohio, Mrs. Gillibrand, Mrs. Boxer, and Mr. Lautenberg) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To reform the Federal tax code.

1.

Short title

This Act may be cited as the Comprehensive and Fair Tax Reform Act.

2.

Sense of the Senate

It is the sense of the Senate that Congress should— (1)simplify and shrink the tax code to reduce burdens on taxpayers and businesses; (2)eliminate wasteful tax breaks for special interests and remove corporate tax loopholes; (3)get rid of extra tax breaks for millionaires and billionaires; and (4)crack down on cheaters and close the tax gap.