A sign is displayed outside the Internal Revenue Service building May 4, 2021, in Washington. (AP Photo/Patrick Semansky, File)
A bill that would try to abolish the Internal Revenue Service (IRS) and eliminate federal income tax was reintroduced on Tuesday by Georgia Republican Rep. Buddy Carter.
A vote on the bill, labeled the Fair Tax Act, was part of a deal that was negotiated between the House Freedom Caucus and Speaker Kevin McCarthy during his quest for the speakership.
The Act “will eliminate the need for the IRS by simplifying our tax code with provisions that work for the American people,” Carter said on Twitter.
The current federal income tax scheme would be replaced with a single nationwide consumption tax. The Office of Management and Budget criticized the bill and said it would only benefit certain taxpayers.
“With their first economic legislation of the new Congress, House Republicans are making clear that their top economic priority is to allow the rich and multi-billion dollar corporations to skip out on their taxes, while making life harder for ordinary, middle-class families that pay the taxes they owe,” the Office of Management and Budget said in a statement.
The vote comes after House Republicans passed a bill Monday evening that would prevent plans to fund 87,000 new IRS agents, originally included in the Inflation Reduction Act that Democrats passed last year.
A date has not been set for the vote on the Fair Tax Act. However, both bills are unlikely to pass in the Democratic-controlled Senate.
With less than two months until the end of the year, the Biden administration is running out of time to win the reauthorization of a spy program it says is vital to preventing terrorism, catching spies and disrupting cyberattacks.
Hunter Biden asked a judge on Wednesday to approve subpoenas for documents from Donald Trump and former Justice Department officials related to whether political pressure wrongly influenced the criminal case against him.
The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them.
Presidents Joe Biden and Xi Jinping are heading into their big meeting at a country estate in California on Wednesday hoping to stabilize U.S.-China relations after a period of tumult.
