A bill to amend the Internal Revenue Code of 1954 to provide that a 14 percent income tax rate shall apply to all individuals, and to repeal all deductions, credits, and exclusions for individuals other than a $2,000 deduction for each personal exemption.
Flat Tax Act of 1983 - Amends the Internal Revenue Code to repeal the income tax tables. Provides for a flat income tax rate of 14 percent for all individuals, estates, and trusts.
Repeals all special tax deductions, credits, and exclusions from income for individuals. Increases to $2,000 the personal tax exemption.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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