A bill to repeal the Federal alcohol and tobacco excise taxes in order to make additional sources of revenue available to State and local governments.
Revenue Source Sharing Act - Repeals subtitle E of the Internal Revenue Code which imposes Federal excise taxes on distilled spirits, wines, beer, tobacco products, and specified firearms. (Repeals 26 U.S.C. 500-5872)
Directs the Secretary of the Treasury, not later than 90 days after enactment, to submit to the House Ways and Means Committee a draft of the technical and conforming changes in the Internal Revenue Code to reflect the changes effected by this Act.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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