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GA SR1011
Resolution
Status
Introduced
2/22/2012
Primary Sponsor
Bill Cowsert
Click for details
AI Summary
- Urges the U.S. Congress to enact the FairTax, which would replace all federal corporate and personal income taxes with a single 23 percent consumption tax on new goods and services
- Expresses Georgia's commitment to promptly ratify the repeal of the 16th Amendment (which authorizes the federal income tax) and to conform the state tax code accordingly
- The FairTax would provide every American household a monthly "pre-bate" equal to the consumption tax on purchases up to the federal poverty level, making basic necessities effectively tax-free
- Proponents claim the proposal is revenue neutral, would save hundreds of billions in annual compliance costs, and would create stable funding streams for Social Security and Medicare
- Directs the Secretary of the Senate to transmit copies of the resolution to the Georgia congressional delegation
Legislative Description
Congress; urge to enact the FairTax
Last Action
Senate Read and Referred
2/22/2012
Committee Referrals
Rules2/22/2012
Full Bill Text
No bill text available