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.
Ivanka Trump began testifying Wednesday in the civil fraud trial that is publicly probing the Trump family business, making an appearance she tried to prevent.
Wednesday night is the third Republican presidential primary debate with five candidates set to take the stage. Columnist and political analyst Jonathan Harris spoke with Cheddar News to explain what to expect from a reduced field of candidates, what topics are on tap to discuss and which candidates have the momentum.
Treasury Secretary Janet Yellen is accusing the GOP of playing politics with IRS funding with a new round of budget cuts in a recent aid bill that would slash $14 billion from the agency in order to fund aid to Israel.
Democratic Kentucky Gov. Andy Beshear and Republican Mississippi Gov. Tate Reeves won reelection on Tuesday, while Ohio voters approved a constitutional amendment guaranteeing the right to an abortion and other forms of reproductive health care. In Virginia, Democrats swept legislative elections in a blow to GOP Gov. Glenn Youngkin.
