The proposal reportedly has a slim chance of passing.
House speaker Kevin McCarthy agreed to put the Fair Tax Act on the floor as one of a number of concessions he made to House Freedom Caucus members last week in a bid to secure the speakership. The bill was introduced by Representative Buddy Carter on Wednesday and has also received the support of Republican representatives Scott Perry of Pennsylvania, Bob Good of Virginia, and Ralph Norman of South Carolina.
Its current champion in Congress is Georgia Rep. Earl"Buddy" Carter, whose Fair Tax Act would swap out the income, payroll, estate, and corporate levies for a 30% national sales tax. It would also send out"prebate" checks to soften the blow on lower income families, all while abolishing the Internal Revenue Service.to National Review,"will assuredly fail in the Democratic-controlled Senate.
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