TALLAHASSEE -- A state Senate panel is urging Congress to eliminate the federal income tax and replace it with a national sales tax, known as the “fair tax.”
The Senate Governmental Oversight and Accountability Committee unanimously passed the measure Thursday with the support of two Democrats, Chairman Jeremy Ring of Margate and Sen. Bill Montford of Tallahassee.
The memorial (SM 118) enumerates a long list of grievances against the federal income tax — stunting economic growth, impeding international competitiveness, reducing savings and investment, lowering productivity and hiding the “true costs of government.”
Conversely, a national sales tax would encourage savings and investment, fairness, economic growth, a higher standard of living, productivity and international competitiveness, according to the memorial. It goes on to encourage Congress to pass H.R. 25, the Fair Tax Act of 2013.
Such memorials have no teeth and only serve as a way the Legislature requests action from Congress, the president or some other executive or legislative panel. Both houses of the Legislature must approve the memorial, and it doesn’t need the governor’s signature, nor can it be vetoed.
The measure already passed through a previous Senate panel and has one more to go before heading to the Senate floor. A companion memorial (HM 15) in the House has not received a hearing.