Repeals individual income, corporate income, and corporate franchise taxes and repeals all credits, deductions, exemptions, and exclusions from the taxes (OR DECREASE GF RV See Note)
Repeals the corporation franchise tax and removes eligibility of certain tax credits to be claimed against corporation franchise tax (OR -$324,000,000 GF RV See Note)
Provides for a flat rate for purposes of calculating income tax for individuals, estates, and trusts and modifies certain income tax deductions and credits (OR +$19,000,000 GF RV See Note)