Congressman Chaka Fattah, D-Pa., a senior member of the House Appropriations Committee, has introduced legislation that would direct the Treasury Department to issue a legislative proposal to Congress concerning the viability of replacing the current income tax with a consumption tax.
Under H.R. 2393, the American Growth & Tax Reform Act of 2013, the Treasury Secretary would clarify how the consumption tax could be used to identify and collect “ambiguous revenue” to help reduce the deficit. The bill also asks the Treasury Department to determine if the consumption tax should be applied in phases, such as implementing it in conjunction with the current income tax to reduce the deficit and later eliminating all income and business taxes.
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