H.R.3097 - Tax Code Termination Act105th Congress (1997-1998)
Summary: H.R.3097 — 105th Congress (1997-1998)
Passed House amended (06/17/1998)
Tax Code Termination Act - Prohibits the imposition of any tax by the Internal Revenue Code: (1) for any taxable year beginning after December 31, 2002; and (2) in the case of any tax not imposed on the basis of a taxable year, on any taxable event or for any period after December 31, 2002. Excepts the: (1) tax on self-employment income (chapter 2 of the Code); (2) Federal Insurance Contributions Act (chapter 21 of the Code); and (3) Railroad Retirement Tax Act (chapter 22 of the Code).
Declares that any new Federal tax system should be: (1) a simple and fair system; and (2) approved by the Congress in its final form no later than July 4, 2002.