![]() In its current context, the Fair Tax Act is partially a response to the Inflation Reduction Act, a sprawling tax and climate law that - among many things - provides the IRS with $80 billion. ![]() Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas Get Started What does the Fair Tax Act propose? Still, the proposal has many wondering what a national sales tax or "fair tax" would look like. The Fair Tax Act is unlikely to become law due to opposition from Democrats, and President Joe Biden has already said that he will veto the bill if it does manage to pass both the House and the Senate. ![]() “This bill will eliminate the need for the entirely by simplifying the tax code with provisions that work for the American people and encourage growth and innovation,” Carter said in an announcement. Ga.) introduced the bill to the House of Representatives earlier this month, and House Speaker Kevin McCarthy has agreed to bring the bill to a vote. The idea of implementing a national sales tax in lieu of our current federal tax apparatus is once again gaining steam after Rep. That’s a future proponents of the Fair Tax Act would like to see. Imagine this: Instead of paying federal taxes to the IRS, you pay them to your local cafe every time you buy a latte or to your supermarket when you make a grocery run - or to countless other businesses when you make purchases.
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