[Congressional Record Volume 157, Number 11 (Wednesday, January 26, 2011)]
[Extensions of Remarks]
[Page E130]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


            INTRODUCTION OF THE ``TAX CODE TERMINATION ACT''

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                           HON. BOB GOODLATTE

                              of virginia

                    in the house of representatives

                      Wednesday, January 26, 2011

  Mr. GOODLATTE. Mr. Speaker, last night we gathered in this Chamber to 
hear President Obama deliver his State of the Union Address. I was 
particularly encouraged to hear the President say, ``the best thing we 
could do on taxes for all Americans is to simplify the individual tax 
code.'' The President stated he was prepared to join both parties in 
simplifying our tax code. I join the President in calling for a 
simplified tax code, and I rise today to introduce the Tax Code 
Termination Act. This legislation can be the impetus for overhauling 
our tax system.
  The fact is our current tax system has spiraled out of control. At a 
time when Americans devote a total of 7 billion hours each year to 
comply with the tax code, we need tax simplification. Today's tax code 
is unfair, discourages savings and investment, and is impossibly 
complex. The Tax Code Termination Act will force Congress to finally 
debate and address fundamental tax reform. This bi-partisan legislation 
is simple. It will abolish the Internal Revenue Code by December 31, 
2015, and call on Congress to approve a new Federal tax system by July 
of the same year.
  While almost every Member would acknowledge that our tax code is no 
longer working in a fair manner for Americans, nothing has been done to 
create a more equitable tax code. Congress won't act on fundamental tax 
reform unless it is forced to do so. My bill will force Congress to 
finally debate and address fundamental tax reform.
  Once this bill becomes law, today's oppressive tax code would survive 
for only four more years, at which time it would expire and be replaced 
with a new tax code that will be determined by Congress, the President, 
and the American people. This legislation will allow us, as a Nation, 
to collectively decide what the new tax system should look like. Having 
a date-certain to end the current tax code will force the issue to the 
top of the national agenda.
  Although many questions remain about the best way to reform our tax 
system, I am certain that if Congress is forced to address the issue we 
can create a tax code that is simpler, fairer, and better for our 
economy than the one we are forced to comply with today.
  Whichever tax system is adopted, the key ingredients should be: a low 
rate for all Americans; tax relief for working people; protection of 
the rights of taxpayers and reduction in tax collection abuses; 
promotion of savings and investment; and encouragement of economic 
growth and job creation. Taxes may be unavoidable but they don't have 
to be unfair and overcomplicated.
  Just like other programs that require reauthorization, the tax code 
must be reviewed to examine whether it is fulfilling its intended 
purpose and then Congress must make any changes that are necessary.
  America's future depends on overcoming the handicap of the current 
tax code. There is widespread consensus that the current system is 
broken, and keeping it is not in America's best interest. I urge my 
colleagues to support this legislation and end the broken tax system 
that exists today.

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