(DailyVantage.com) – The IRS has garnered a lot of attention lately, especially in light of the Biden Administration’s intention to add 87,000 more agents to conduct audits. In response, the House, now under a Republican majority, has vowed not to let that happen. To that effect, they have introduced several bills aimed at the agency. One seeks to repeal $72 million in funding, depriving the agency of the funds to hire additional auditors. Now, conservative legislators have introduced another measure seeking to do away with the IRS altogether. However, President Joe Biden says he would veto any bill crossing his desk seeking to eliminate the service.
On Wednesday, January 10, Rep. Buddy Carter (R-GA) introduced the Fair Tax Act, legislation seeking to abolish the IRS in favor of what’s known as a national consumption tax. In his statement, Carter said the act would simplify “the tax code with provisions that work for the American people.”
No one likes paying taxes, but they much prefer a FAIR consumption tax over an income tax.
This proposal puts more money into your pocket and lets you decide how much taxes you pay.— Buddy Carter (@RepBuddyCarter) January 17, 2023
The bill would also repeal several notable taxes people pay each year, such as death, gift, and payroll, as well as personal and corporate income taxes. It has several Republican Representative co-sponsors, including Bob Good (VA), Jim Banks (IN), Thomas Massie (KY), and Scott Perry (PA).
The White House and Biden himself responded to the effort, and the president called Republicans “fiscally demented” during a breakfast speech on Monday, January 16, according to Breitbart. Expanding on his position, he said, “If any of these bills happen to reach my desk, I will veto them. Any of them.” The White House echoed this sentiment in a statement, saying the country needs the IRS to ensure the wealthy don’t skip out on paying the money they owe.
This proposal isn’t the first time Republicans have floated the idea of a national tax. John Linder introduced such a bill in 1999. Various versions have come up repeatedly in the 20-plus years since he originated the idea.
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