Rep. Earl L. “Buddy” Carter (R-GA) introduced H.R. 25, the Fair Tax Act, aimed at replacing the current tax code with a national consumption tax known as the Fair Tax.
Congressman Buddy Carter just introduced a bill to abolish the IRS, repeal income, payroll, estate and gift taxes
1/12/2025
The proposed legislation would abolish the existing tax system, replacing it with a single national consumption tax. This includes eliminating personal and corporate income taxes, the death tax, gift taxes, and the payroll tax, effectively removing the need for the Internal Revenue Service (IRS).
“The Fair Tax is truly fair. It’s the only tax proposal that promotes economic growth, simplifies the system, and allows Americans to keep every penny they earn—all while making the IRS obsolete. I’m proud to lead this Georgia-originated legislation that puts the power over tax rates back into the hands of the American people, not bureaucrats,” said Rep. Carter.
Original co-sponsors of the bill include Reps. Andrew Clyde (R-GA), John Carter (R-TX), Scott Perry (R-PA), Eric Burlison (R-MO), John Rutherford (R-FL), Warren Davidson (R-OH), Andy Biggs (R-AZ), Dale Strong (R-AL), Rich McCormick (R-GA), Barry Loudermilk (R-GA), and Andy Harris (R-MD).
“Hardworking Americans shouldn’t need a team of lawyers or accountants to navigate their taxes—they need a straightforward system that fosters growth and innovation. Taxpayers shouldn’t be targeted by the IRS for wanting to keep more of what they earn. That’s why I’m proud to support this Georgia-led effort to simplify our tax code and give more Americans the chance to achieve the American Dream,” said Rep. Barry Loudermilk (GA-11).
“I’m proud to once again back the Fair Tax Act. This legislation offers a practical solution to eliminate the weaponized IRS, simplify the tax code, and promote economic prosperity. Enacting the Fair Tax is the right step to empower hardworking Americans and make the American Dream attainable again,” said Rep. Clyde.
“The Fair Tax Act will simplify our tax system and ensure everyone, including illegal immigrants, contributes their fair share. This Congress has an incredible opportunity to advance a pro-growth tax agenda that lets Americans retain more of their earnings,” said Rep. Strong.
“The Fair Tax not only simplifies the tax code but broadens the revenue base, ensuring equitable contributions while reducing loopholes and unnecessary complexity. By incentivizing savings and generating stable, predictable income, it offers a sustainable approach to reducing national debt and putting our country back on a responsible fiscal path,” said Rep. McCormick.
Meta to automate up to 90% of its privacy and safety checks
6/2/2025 10:22 PMUS extends tariff pause on some Chinese goods to August 31st
6/2/2025 10:19 PMDisney, DIS, is laying off several hundred employees globally across multiple teams, including those for Disney's marketing for both film and TV, publicity, casting and development as well as corporate financial operations
6/2/2025 6:41 PMThe typical Canadian pays 70% more income tax than the typical American
6/2/2025 5:39 PM
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.