S. 3047: Tax Code Termination Act

111th Congress · introduced 2010-02-25 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2010-02-25 · official record
Who proposed it: Sen. Isakson, Johnny [R-GA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Tax Code Termination Act

Plain summary

Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 for taxable years beginning after 2013, except provisions of such Code relating to social security taxation (i.e., taxes on wage, self-employment, and railroad retirement income). Establishes within the legislative branch a National Commission on Tax Reform and Simplification. Directs the Commission to: (1) review the Internal Revenue Code of 1986 and its impact on the economy, families, and the workforce: (2) determine whether the current income tax system should be replaced with a flat tax, a national sales tax, or another system, or can be simplified; and (3) submit a report to Congress on the results of its review, with recommendations for fundamental reform and simplification of the Code. Requires congressional approval of a new federal tax system no later than July 4, 2013, or a vote of Congress to reauthorize the Internal Revenue Code of 1986.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Tax Code Termination Act

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Isakson, Johnny [R-GA] · 8 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mike Crapo (R-ID)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Sales tax: A tax added to the price of goods and some services when they are bought.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s3047.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s3047 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111