House Republicans to vote on bill abolishing IRS, eliminating income tax

FIRST ON FOX: Republicans in the House of Representatives will vote on a bill that would abolish the Internal Revenue Service (IRS), eliminate the national income tax and replace it with a national consumption tax. Buddy Carter's reintroduced Fair Tax Act that aims to reel in the IRS and remove the national income tax, as well as other taxes, and replace them with a single consumption tax. "The Fair Tax Act eliminates the tax code, replaces the income tax with a sales tax, and abolishes the abusive Internal Revenue Service. "I support the Fair Tax because it simplifies our tax code," said Rep. Bob Good, R-Va., in a statement. Additionally, the bill gets rid of the death, gift and payroll taxes, and it would replace the current tax code with a national consumption tax.