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- H.R.1040
H.R.1040: Flat Tax Act
About This Bill
- Introduced Feb. 24, 2015
- Latest Major Action Feb. 24, 2015
- See the ten similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Flat Tax Act Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing income tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each...
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
Feb. 24, 2015 |
Referred to House Rules
|
Feb. 24, 2015 |
Referred to House Ways and Means
|
Feb. 24, 2015 |
Introduced in the House by Michael C. Burgess (R-Texas) |