The FairTax system would replace our complicated and costly tax system with a flat national consumption tax and eventually close the Internal Revenue Service (IRS). Overhauling the American tax system is not an easy undertaking, but the economic need for a leaner and fairer tax code has never been greater. Reducing costly inefficiencies and the burden of filing taxes should be a priority in this Congress.
The FairTax would place all taxpayers on equal footing, protect Americans from government intrusion by the IRS, boost business growth, and incentivize savings and investment – all while collecting revenue at levels similar to those of our current mess of a tax code. The FairTax would repeal all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes and gift and estate taxes, and replace those with a revenue-neutral, personal consumption tax on all retail sales of new goods and services.
U.S. Senator David Perdue (R-Ga.) and Senator Moran are original cosponsors in the Senate. U.S. Representative Rob Woodall (R-Ga.) has introduced the companion bill, H.R. 25, in the House of Representatives.
The FairTax Act deserves to be heard in a committee setting, debated, and given an up or down vote. This tax reform proposal would have a positive impact on millions of taxpayers, allowing Americans to once again be in charge of their lives and money.
Floor Speech—January 28, 2015: Sen. Moran Discusses FairTax Legislation on U.S. Senate Floor
National Review Online—January 22, 2015: The FairTax Makes a Comeback
Press Release—January 13, 2015: Sens. Moran, Perdue Introduce "FairTax" Legislation