H.R. 1040: Flat Tax Act
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H.R. 1040: Flat Tax Act
117th Congress · introduced 2021-02-15 · Taxation · Latest: Executive Comment Requested from Federal Judicial Center, Graduate Fellows Program, Harry S Truman Scholarship.
federal
Follow this bill, step by step
- Where it came from: introduced 2021-02-15 · official record
- Who proposed it: Rep. Burgess, Michael C. [R-TX-26] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Executive Comment Requested from Federal Judicial Center, Graduate Fellows Program, Harry S Truman Scholarship. 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.
Official title
Flat Tax Act
Plain summary
Flat Tax Act This bill authorizes an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing income tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. The bill calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. "Business taxable income" is gross active income reduced by certain deductions for the cost of business inputs, wages, and retirement contributions. The bill imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this bill and 17% thereafter. The bill also repeals the estate, gift, and generation-skipping transfer taxes. A two-thirds vote of the House of Representatives and the Senate is required to increase the flat tax rate proposed by this bill or to reduce the amount of the standard deduction or business-related deductions allowed by this bill.
Congressional Research Service summary (Introduced in House), 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.
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Burgess, Michael C. [R-TX-26] · 0 cosponsors
Cost estimate: No cost estimate published yet.
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 (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117hr1040.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>
Record fed-us-cong117-hr1040 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117