House Republicans are renewing efforts to introduce a national sales tax and abolish the Internal Revenue Service (IRS), framing the measure as a way to ensure illegal immigrants contribute taxes. Representative Buddy Carter (R-GA) will unveil the FairTax Act of 2025 on Thursday, a bill designed to overhaul the U.S. tax system by replacing the federal income tax with a 23% national sales tax.
The 16th Amendment to the United States Constitution is a significant piece of legislation that has had a lasting impact on the nation's financial system.
A group of House Republicans is supporting legislation that would replace federal income, payroll, estate, and gift taxes with a 30 percent national sales tax.
The final act of the Democrat majority on the House Ways and Means Committee was to make public several years of Donald Trump’s tax returns, which the Committee obtained after a prolonged legal battle.