,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bcic  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #ag1 #bjac ,mr4 
,fattah introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to direct ! ,secret>y ( ! 
,treasury to develop & pres5t to        
,congress a legislative proposal to     
e/abli% a consumption tax4  #a4 ,%ort   
title ,?is ,act may be cit$ z ! ,am]ican
 ,gr[?  ,tax ,re=m ,act ( #bjac4  #b4   
,f9d+s ,congress f9ds ! foll[+3  7#a7 ,!
 ,unit$ ,/ates1 f its beg9n+ 9 #agij to 
! pres5t1 has be5 free ( a national debt
 = only two ye>s1 #ahcd & #ahce4  7#b7  
,aft] #aidf1 ! national debt z a        
p]c5tage ( ,,gdp decl9$1 rea*+ a l[ (   
#cb4e p]c5t 9 #aiha4  7#c7 ,! l>ge      
budget deficits ( ! #aihjs & #aiijs     
rev]s$ ?is tr5d & pu%$ ! p]c5tage to    
ano!r high ( #di4e p]c5t 9 #aiic4  7#d7 
,! ,f$]al budget surpluses f fiscal ye> 
#aiih to fiscal ye> #bjja 7 us$ to      
retire a portion ( ! publicly held      
national debt4  7#e7 ,betwe5 fiscal ye> 

#aiig & fiscal ye> #bjja1 ! publicly    
held portion ( ! national debt decl9$ by
 m ?an #djj billion4  7#f7 ,s9ce fiscal 
ye> #bjjb1 a return to budget deficits  
has caus$ ! debt to gr[ aga94  7#g7 ,!  
national debt has gr[n f #ge4e million 9
 #agij to #af1gha1ifg1gjb1dje4cg1 z (   
,april #ai1 #bjac4  7#h7 ,congress mu/  
consid] innovative tax /rategies to meet
 ?is fiscal *all5ge4  7#i7 ,a           
consumption tax w assi/ 9 decreas+ !    
total public debt out/&+ by broad5+ !   
tax base to include rev5ue f untapp$    
s\rces3 =eign t\ri/s1 undocum5t$        
immigrants1 ! und]gr\nd economy1 &      
multi-million doll> bus9ess             
transactions4  7#aj7 ,implem5t+ a       
consumption tax w\ld simplify ! curr5t  
tax sy/em4  7#aa7 ,at lea/ #hd c\ntries 
subscribe to "s =m ( consumption        
taxation1 includ+ ,afghani/an1 ,albania1
 ,au/ralia1 ,au/ria1 ,az]baijan1        
,bahamas1 ,banglade%1 ,b>bados1         
,belgium1 ,b591 ,brazil1 ,brunei        
,d>ussalam1 ,burundi1 ,cam]oon1 ,canada1

 ,cape ,v]de1 ,*ile1 ,*9a1 ,comoros1    
,congo 7,,drc71 ,croatia1 ,cyprus1      
,d5m>k1 ,egypt1 ,e?iopia1 ,f9l&1        
,france1 ,ghana1 ,g]many1 ,greece1      
,gu9ea-,bissau1 ,indonesia1 ,irel&1     
,iran1 ,italy1 ,jamaica1 ,japan1 ,k5ya1 
,korea1 ,kosovo1 ,kuwait1 ,laos1        
,latvia1 ,lib]ia1 ,li?uania1 ,luxemburg1
 ,mac$onia1 ,madagasc>1 ,malaysia1      
,malta1 ,mexico1 ,morocco1 ,ne!rl&s1    
,new ,zeal&1 ,norway1 ,paki/an1 ,pol&1  
,portugal1 ,qat>1 ,russian ,f$]ation1   
,saudi ,arabia1 ,s5egal1 ,s]bia1        
,s+apore1 ,slovak ,republic1 ,slov5ia1  
,s\? ,africa1 ,spa91 ,sri ,lanka1       
,sudan1 ,sw$51 ,switz]l&1 ,tanzania1    
,?ail&1 ,tr9idad  ,tobago1 ,tunisia1    
,turkey1 ,ug&a1 ,ukra9e1 ,uruguay1      
,unit$ ,k+dom1 ,vietnam1 ,zambia1 &     
,zimbabwe4  7#ab7 ,"u a consumption tax1
 p]sonal sav+s are exclud$ f ! taxable  
base !reby rew>d+ taxpay]s = sav+4  #c4 
,consumption tax legislative proposal   
7a7 ,9 g5]al ,n lat] ?an #a ye> aft] !  
date ( ! enactm5t ( ?is ,act1 !         

,secret>y ( ! ,treasury %all develop &  
submit to ,congress a legislative       
proposal to e/abli% a consumption tax t 
is broad-bas$ & progressive 9 nature4   
7b7 ,proposal requirem5ts  7#a7 ,9 g5]al
 ,su* proposal %all set =? ! details (  
su* a consumption tax & ! rates t !     
,secret>y e/imates w\ld elim9ate ! total
 public debt out/&+ 9 #aj ye>s1 #bj     
ye>s1 & #cj ye>s1 respectively1 "u ea* (
 ! foll[+ sc5>ios3  7,a7 ,! consumption 
tax w\ld be 9 addition to all ,f$]al    
taxes 9 effect on ! date ( ! enactm5t ( 
?is ,act4  7,b7 ,! consumption tax w\ld 
replace ! individual income tax impos$  
by section #a ( ! ,int]nal ,rev5ue ,code
 ( #aihf on e>n$ income 7z def9$ 9      
section #cb7;c77#b7 ( su* ,code74  7,c7 
,! consumption tax w\ld replace !       
corporate income tax impos$ by section  
#aa ( su* ,code4  7#b7 ,feasibility &   
comp>ative analysis ,su* proposal %all  
also include--  7,a7 an analysis ( !    
feasibility (1 any b>ri]s to1 & any     
advantages or disadvantages (1 a ,f$]al 

consumption tax1 &  7,b7 a comp>ative   
analysis ( ! function & "* ( consumption
 taxes 9 o!r c\ntries t impose a        
consumption tax4