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Flat Tax System: Simplifying Taxes for Individuals and Businesses

This bill introduces significant changes to the US tax system, replacing current rules with a flat tax rate of 15% for individual and business income. Citizens can expect simplified tax filings and changes to deductions and credits, impacting their personal finances and how businesses operate.
Key points
Introduction of a flat 15% individual income tax rate.
Establishment of standard deductions: $25,000 for joint filers, $18,000 for heads of household, $12,500 for single filers, plus $5,000 for each eligible dependent.
Implementation of a flat 15% tax rate for business activities, allowing deductions for business inputs and wages.
Repeal of the Alternative Minimum Tax (AMT), numerous tax credits, and estate and gift taxes.
Income of children under 14 will be included in parents' taxable income, with no separate tax liability for the child.
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Expired
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Additional Information
Print number: 117_HR_9680
Sponsor: Rep. Gohmert, Louie [R-TX-1]
Process start date: 2022-12-22
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code to establish a flat tax, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9680.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-22.

What are the main provisions?

Key points include:

  • Introduction of a flat 15% individual income tax rate.
  • Establishment of standard deductions: $25,000 for joint filers, $18,000 for heads of household, $12,500 for single filers, plus $5,000 for each eligible dependent.
  • Implementation of a flat 15% tax rate for business activities, allowing deductions for business inputs and wages.
  • Repeal of the Alternative Minimum Tax (AMT), numerous tax credits, and estate and gift taxes.
  • Income of children under 14 will be included in parents' taxable income, with no separate tax liability for the child.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gohmert, Louie [R-TX-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy