(RepublicanDaily.org) – House Speaker Kevin McCarthy shot down a national sales tax bill proposal, as Congress debates economic measures ahead of the impending debt ceiling crisis, Axios reported.
McCarthy told reporters that he “did not support” the Fair Tax Act, Benzinga news reported.
The Fair Tax Act is legislation proposed by a strong Republican-leaning Caucasus to abolish the IRS and impose a “national sales tax” on the consumption of United States taxable property or services, instead of the current income tax system.
Fair Tax Act legislation has been around, “in some form or the other”, since 1999, Benzinga reported. Political commentators said that the latest push was “likely for show”.
McCarthy has essentially shot down legislation to abolish the IRS and replace federal taxes with a 30% sales tax. Republicans explained to Axios that McCarthy had agreed to allow the proposed legislation to have a hearing, but that this would not guarantee a house floor vote would move forward.
Supporting the Fair Tax Act’s chance for a floor vote was part of a deal McCarthy used to get his vote as House Speaker, Axios reported.
Because McCarthy does not support the Fair Tax Act bill, supporting Republicans will probably not get the chance to vote on it.
McCarthy has pledged not to cut Social Security and Medicare during debt ceiling debates, Senator Joe Manchin told reporters, Business Insider reported. These programs have been off the table for some time, with former President Donald Trump among those stating that the programs “should be left alone.”
Democrats had seized upon the bill, stating that the Republican fiscal policy is “extreme.” The Democratic agenda includes a proposed repeal of the fixed dollar amount national debt ceiling, which would permit uncapped government borrowing. Other proposed legislation ponders raising the national debt ceiling.
Copyright 2023, RepublicanDaily.org