Fair Tax Act Pros And Cons 2025

Fair Tax Act Pros And Cons 2025. Instead of an income tax, the bill, known as the fair tax act, would create a 23% national sales tax. If passed, the fair tax act would radically restructure the nation’s tax system, replacing individual and corporate income taxes, the estate tax, and the payroll taxes.

List of pros of fair tax act. House republicans introduced the fairtax act of 2023 in january, and if it passes, a national consumption tax would replace the current tax system.