Rep. Brittany Petersen (D-CO), Rep. Willie Nickell (D-NC) and Rep. Eric Sorensen (D-Illinois) hold a press conference outside the U.S. Capitol on March 8, 2023 in Washington, DC.
Drew Angerer | Getty Images
Three Democrats in the US House of Representatives introduced a measure to resist a controversial Republican tax proposal that would abolish the IRS, eliminate income taxes and introduce a national sales tax.
Republicans filed in the House of Representatives Fair tax law In January, shortly after California’s state president, Kevin McCarthy, was voted in as speaker. The legislation proposes to reform the American tax system by eliminating the income tax in favor of a tax of 23% to 30% on gross payments to taxable property.
Democratic Representatives Willie Nickel of North Carolina, Eric Sorensen of Illinois and Brittany Petersen of Colorado called the measure “extreme.”
“I was dismayed to hear of an extreme plan by my colleagues on the other side of the aisle that calls for a 30% national sales tax for working families,” Nickel said at a press conference on Wednesday. “A 30% sales tax would be a disaster for working families and individuals in North Carolina and around the country who are already dealing with soaring gas prices, skyrocketing housing costs, and rising costs of everyday goods and services.”
The three Democrats introduced a house decision Opposing a national sales tax on working families, and instead supporting a tax cut in favor of middle-class families. Nickel said their efforts build on the work of Sens. John Tester, D-Mont, and Jackie Rosen, D-Nev.
Tester and Rosen introduced the Supplementary Senate Accuracy in feb.
“We’re in the heart of the country,” Sorenson said, “we see two things that determine how hard it is to live.” “It’s the price of a gallon of milk, which was about $5 a gallon. And also the cost of eggs. It’s the cost of gas. We need to get those costs down for Americans every single day.”
“The last thing anyone needs now that we’re struggling to make ends meet is higher taxes,” he added.
Congressional decisions are not binding laws. They are used, instead, to highlight an issue of importance in Congress and indicate the direction lawmakers plan to take if forced to vote on it.
Negotiations between McCarthy and members of the conservative House Liberty Caucus during McCarthy’s drawn-out bid for speaker cemented a full House vote on the Fair Tax Act, according to Fox News. But McCarthy has yet to bring the bill up for debate.
“The notion that Republicans could even consider such a ruling when their constituents ask for help is outrageous,” Petersen said. Not only will this bill have negative effects on people in Colorado and across the country, it will completely destroy the IRS.”
The bill will effectively abolish Sixteenth Amendment of the United States Constitution, which gives Congress the power to establish and collect income taxes. It will also cause the IRS to cancel and levy a tax of $1 30% off every $100 purchaseAccording to the nonpartisan Center for American Progress.
If passed, the tax policy will take effect in 2025.
Republican legislators Argues That a national sales tax on goods and services “purchased for final consumption” will enhance savings and investment, stimulate economic growth, raise the standard of living, and respect taxpayers’ right to privacy compared to traditional federal income, payroll, estate, and gift taxes, according to the language of the bill.
Rep. Paddy Carter, R-N, who introduced the Fair Taxes Act, said he would simplify the tax code.
“Instead of adding 87,000 new agents to arm the IRS against small business owners and Central Americans, this bill would eliminate the need for oaths entirely by streamlining the tax code with provisions that work for the American people and encourage growth and innovation,” Carter said. He said in the current situation. Armed and unelected bureaucrats should not have more power over your paycheck than you do.
The law will reduce federal spending by more than $71 billion in 2023, according to A a report It was released on Monday by the Congressional Budget Office. But it is also estimated to reduce tax revenues by more than $185 billion over the next ten years.
The Republican Party’s tax proposal would add $114 billion to the deficit over that time frame, according to the Central Bank of Oman.
The bill would also undermine several tax provisions introduced by President Joe Biden under the Inflation Control Act, including more employees for the IRS and a 15% corporate tax imposed on companies earning more than $1 billion annually. in january statementVice President Kamala Harris said the Republican Party is “rushing to undo this progress and allow so many millionaires and billionaires and corporations to cheat the system.”
Petersen said the sales tax will hurt most who are unable to save, such as the elderly and low-income families.
“When you look at a consumer-driven tax code, it’s the people who are actually unable to save who pay a disproportionate level of taxation, plus a lower level of taxation that greatly impacts Social Security and Medicare,” he said.
“Coffee trailblazer. Certified pop culture lover. Infuriatingly humble gamer.”
SNP election: Hamza Yusuf wins the race to replace Sturgeon as Scotland’s next leader
Prince Harry is in London’s High Court to hear against a British publisher
Local governments in China are finding new ways to raise money amid debt concerns