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Article: House votes to sunset current tax code by 2004
- Article from:
- Human Events
- Article date:
- May 5, 2000
- Author:
CopyrightCopyright Human Events Publishing, Inc. May 5, 2000. Provided by ProQuest LLC. (Hide copyright information)
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On April 13, just days before federal income tax returns were due, the House, by a vote of 229 to 187, passed the Date Certain Tax Code Replacement Act (HR 4199), a bill that would sunset the current tax code on Dec. 31, 2004, and require Congress to approve a replacement code six months earlier, by July 4, 2004.
Opponents claimed that the bill would create uncertainty, roil the financial world, and, after the dust settled, help the rich and hurt the poor.
Supporters said that the current system was so bad, so entrenched and so unknowable that it had to be replaced. Even the Internal Revenue Service isn't the master of the Tax Code, supporters argued, noting that a quarter of the ...