WASHINGTON – U.S. Senator Johnny Isakson, R-Ga., today co-sponsored the Fair Tax Act of 2015, legislation by U.S. Senators Jerry Moran, R-Kan., and David Perdue, R-Ga., to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax.
Isakson, a member of the Senate Finance Committee, has co-sponsored legislation to repeal the tax code and to establish a national sales tax during every session of Congress since being elected to the U.S. Senate.
“Our tax code is a burden to families and a drain on small businesses,” said Isakson. “Our current tax code punishes hard work and productivity, and the recent scandals surrounding the Internal Revenue Service’s politically motivated targeting of grassroots citizen groups is even more proof that no federal government agency should be trusted with this much power. Moving to the kind of system outlined in the Fair Tax of 2015 is a no-brainer. It’s time that we simplify our tax code, abolish the IRS and create a more simple way to pay your fair share.”
The Fair Tax Act of 2015 would repeal all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes and gift and estate taxes, and replace those with a revenue-neutral, personal consumption tax on all retail sales of new goods and services.
Isakson has a long history of fighting to bring tax relief to American families and small businesses. In addition to co-sponsoring the Fair Tax Act of 2015 and supporting legislation to permanently repeal the federal estate tax and the “generation skipping transfer” tax, he has also previously introduced legislation to repeal the U.S. tax code and to force Congress to vote to reauthorize it or replace it with a new system.