House Republicans will now vote on ABOLISHING the IRS and federal income tax trends now House Republicans will now vote on ABOLISHING the IRS and replacing a national income tax with a consumption tax - after voting to strip agency of Biden-backed $72 billion in funds for 87,000 new staff Georgia Republican Rep. Buddy Carter will bring forth the Fair Tax Act that he says would remove the need for an IRS entirely by simplifying the tax code It would replace the national corporate and personal income tax and other taxes with a single consumption tax The bill comes on the heels of a vote Monday night to claw back $72 billion of some $80 billion in additional funding Democrats gave to the IRS By Morgan Phillips, U.S. Political Reporter For Dailymail.Com Published: 19:04 GMT, 10 January 2023 | Updated: 20:00 GMT, 10 January 2023 195 Viewcomments The Republican-led House will vote on a bill to repeal the federal income tax and abolish the IRS altogether this Congress. Georgia Republican Rep. Buddy Carter will bring forth the Fair Tax Act that he says would remove the need for an IRS entirely by simplifying the tax code. It would replace the national corporate and personal income tax and other taxes with a single consumption tax. The bill also gets rid of the death, gift and payroll taxes. It further calls for repealing the 16th Amendment - which gives Congress the right to lay and collect taxes on incomes. A vote on the bill, which has 30 co-sponsors, was promised as part of a deal to get Kevin McCarthy the Speaker's gavel last week. It's not yet clear when the legislation will come to the House floor. Georgia Republican Rep. Buddy Carter will bring forth the Fair Tax Act that he says would remove the need for an IRS entirely by simplifying the tax code The bill comes on the heels of a vote Monday night to claw back $72 billion of some $80 billion in additional funding Democrats gave to the IRS last Congress, much of which is slated to hire 87,000 new IRS agents. The IRS's fiscal year 2022 budget request was a mere $13 billion. Neither bill is likely to find much traction in the Senate, where Democrats currently lead with a 51-48 majority. House Democrats are not taking the bill seriously. 'It's laughable,' Rep. Rosa DeLauro told reporters on Tuesday. Asked about DeLauro's comment, Carter told DailyMail.com: 'Our current tax system is a laughingstock, and the IRS is the butt of the joke. The only people with something to gain from maintaining a behemoth IRS are the bureaucracy-loving Washington Democrats, who want armed, unelected agents to have more control over your paycheck than you do.' In a party-line vote Monday night, House Republicans passed a bill that would rescind $72 billion in Internal Revenue Service funding that was passed by Democrats as part of the Inflation Reduction Act last year The inflation reduction act funded the IRS $80 billion over 10 years to replace members of the retiring workforce. The 87,000 figure came from a Treasury Department assessment of how many IRS employees could be hired The new audits were to offset some $739 billion in mostly climate and social spending in the Inflation Reduction Act. The Congressional Budget Office estimated the GOP-approved bill would add around $114 billion to the deficit. Proponents of a consumption tax argue that the system allows Americans to choose how much they pay in taxes by choosing how much they spend- thus incentivizing savings and investment. 'This transforms the U.S. tax code from a mandatory, progressive, and convoluted system to a fully transparent and unbiased system which does away with the IRS as we know it. It is good for our economy because it encourages work, savings, and investment,' said Rep. Bob Good, R-Va., a co-sponsor of the legislation, in a statement. Filing taxes in the U.S. is far more costly and time-consuming than in other advanced economies - Americans spend 2.6 billion hours and $209 billion per year doing so, according to a 2022 estimate from the American Action Forum. Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility