Simpson cosponsors legislation to make tax code simpler and more fair
Washington, DC – January 28, 2011 – (RealEstateRama) — Idaho Congressman Mike Simpson is an original cosponsor of H.R. 462, the Tax Code Termination Act. This legislation would abolish the Internal Revenue Code and call on Congress to fundamentally reform the federal tax system.
“Over the last few years there have been several proposals to curtail the Internal Revenue Service’s (IRS) intrusion into the American homes. These include proposals to implement a flat tax or a national sales tax,” said Simpson. “I believe the most effective course of action is to sunset the current complex and unfair federal tax code and replace it with a simple and fair alternative.”
Americans work more than four months a year just to pay their tax bills. The average American family pays more in taxes than it spends on food, shelter and clothing combined. The tax code Americans are forced to comply with is unfair, discourages savings and investment, and is impossibly complex.
“A new tax code should provide tax relief for working Americans, protect the rights of taxpayers, reduce tax collection abuses, and eliminate disincentives for savings and investment,” said Simpson.
Similar legislation has already been passed twice by the House of Representatives, first in 1998 by a vote of 219-209 and then in 2000 by a vote of 229-187. Simpson has been a cosponsor of similar legislation since he was elected to Congress.