To amend the Internal Revenue Code of 1986 to provide taxpayers a flat tax alternative to the current income tax system.
Summary
What This Bill Does
The bill creates short title This Act may be cited as the Flat Tax Act, creates the flat tax Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after part VII the following new part: VIIIThe Flat TaxSec, and creates irrevocable election to be subject to flat tax Except as provided in paragraph (2), in lieu of the tax imposed by sections 1 (relating to tax imposed) and 55 (relating to alternative minimum tax imposed), under. It relies on compliance mandates, tax rate changes, definition changes, and tax deductions. The main policy areas are Homeowners, Housing, Finance, and Environment.
Who Benefits and How
Homeowners, tenants, or housing market participants affected by the bill could gain revenue opportunities, Businesses and employers affected by the bill could face lower compliance burdens, and Lobbyists, political organizations, and disclosure users affected by the bill could gain revenue opportunities.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Creates short title This Act may be cited as the Flat Tax Act.
- Creates the flat tax Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after part VII the following new part: VIIIThe Flat TaxSec.
- Creates irrevocable election to be subject to flat tax Except as provided in paragraph (2), in lieu of the tax imposed by sections 1 (relating to tax imposed) and 55 (relating to alternative minimum tax imposed), under...
- Requires tax imposed on individuals There is hereby imposed on the taxable income of every individual who makes an election to be subject to this part a tax equal to— 19 percent of the taxable income of such individual...
- Requires tax imposed on business activities There is hereby imposed on every person engaged in a business activity who makes an election to be taxed under this part a tax equal to— 19 percent of the business taxable...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates short title This Act may be cited as the Flat Tax Act, creates the flat tax Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after part VII the following new part: VIIIThe Flat TaxSec, and creates irrevocable election to be subject to flat tax Except as provided in paragraph (2), in lieu of the tax imposed by sections 1 (relating to tax imposed) and 55 (relating to alternative minimum tax imposed), under.
Key Policy Areas
Homeowners, Housing, Finance, Environment
Primary Purpose
The bill creates short title This Act may be cited as the Flat Tax Act, creates the flat tax Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after part VII the following new part: VIIIThe Flat TaxSec, and creates irrevocable election to be subject to flat tax Except as provided in paragraph (2), in lieu of the tax imposed by sections 1 (relating to tax imposed) and 55 (relating to alternative minimum tax imposed), under.
Policy Domains
Whole bill
Identified Gains
- Homeowners, tenants, or housing market participants affected by the bill
- Businesses and employers affected by the bill
- Lobbyists, political organizations, and disclosure users affected by the bill
- Environmental and public health interests affected by the bill
- Financial services firms and customers affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Legislative Progress
IntroducedMr. Burgess introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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