Summary

A bill to repeal the current Internal Revenue Code and replace it with a flat tax, thereby guaranteeing economic growth and greater fairness for all Americans. Read More

Status

This bill was introduced on Apr 14, 2011, in a previous session of Congress, but was not passed.

Date Introduced
Apr 14, 2011

Co-Sponsors

Bill Text

A BILL

To repeal the current Internal Revenue Code and replace it with a flat tax, thereby guaranteeing economic growth and greater fairness for all Americans.

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ``Simplified, Manageable, And Responsible Tax Act'' or the ``SMART Act''. (b) Table of Contents.--

Sec. 1. Short title; table of contents. TITLE I--TAX REDUCTION AND SIMPLIFICATION

Sec. 101. Individual income tax. Sec. 102. Tax on business activities. Sec. 103. Simplification of rules relating to qualified retirement plans. Sec. 104. Repeal of alternative minimum tax. Sec. 105. Repeal of credits. Sec. 106. Repeal of estate and gift taxes and obsolete income tax provisions. Sec. 107. Effective date. TITLE II--SUPERMAJORITY REQUIRED FOR TAX CHANGES

Sec. 201. Supermajority required.

TITLE I--TAX REDUCTION AND SIMPLIFICATION

SEC. 101. INDIVIDUAL INCOME TAX.

(a) In General.--Section 1 of the Internal Revenue Code of 1986 is amended to read as follows:

``SECTION 1. TAX IMPOSED.

``There is hereby imposed on the taxable income of every individual a tax equal to 17 percent of the taxable income of such individual for such taxable year.''. (b) Taxable Income.--Section 63 of such Code is amended to read as follows:

``SEC. 63. TAXABLE INCOME.

``(a) In General.--For purposes of this subtitle, the term `taxable income' means the excess of-- ``(1) the sum of-- ``(A) wages (as defined in section 3121(a) without regard to paragraph (1) thereof) which...

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Bill Summary

A bill to repeal the current Internal Revenue Code and replace it with a flat tax, thereby guaranteeing economic growth and greater fairness for all Americans.

S. 819 September 11 Family Humanitarian Relief and Patriotism Act of 2011 S. 821the Uniting American Families Act (UAFA)