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)
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)
Provides for the termination of certain tax exemptions, exclusions, credits, deductions, and other tax incentives (EG INCREASE GF RV See Note)
Reduces the amount of certain income tax exclusions, exemptions, deductions, and credits (OR +$850,000,000 SD RV See Note)
Provides relative to state and local sales and use taxes (OR INCREASE GF RV See Note)
Phases-out the taxes levied on the income of individuals and estates and trusts and reduces the amount of exemptions, deductions, and credits that may be claimed to reduce income tax liability (OR DECREASE GF RV See Note)
Phases-out the corporation income and franchise taxes and reduces the amount of exemptions, deductions, and credits that may be claimed to reduce corporate income and franchise tax liability (OR -$644,000,000 RV See Note)
Provides for the collection and remittance of state and local sales and use taxes (EN SEE FISC NOTE GF EX See Note)
Increases the individual income tax combined personal exemption and standard deduction. (8/1/23) (OR -$967,000,000 GF RV See Note)
Repeals the individual income tax deduction for net capital gains (OR INCREASE GF RV See Note)