what-is-the-fairtax-bill-and-why-is-it-so-criticized-by-donald-trump?

The Fairtax Bill is a piece of legislation that has been on the table in the House of Representatives for some time. According to information from the official web portal of the United States Congress, it was introduced in the Chamber on January 9.

This regulation has been severely criticized by the former president of the United States, Donald Trump. Nonetheless, the bill has the support of several Republican lawmakers, including some who, ironically, have been branded pro-Trump.

What is the origin of Trump’s criticism of the Fairtax Act? To find out, you have to start by defining what this proposed law consists of.

What is the Fairtax Act proposed by Republican lawmakers?

According to information from the US Congress, this law would propose a reform of the country’s federal tax laws.

The reform consists of imposing a national tax on sales for the use of property or services in the United States, abolishing the tax burden on income, payroll, real estate and gifts. In this way, a national sales tax of 23% would be implemented by the year 2025.

Starting with this bill, US states would be responsible for administering and collecting these taxes and remitting them directly to the US Treasury Department, which would, in theory, eliminate the Internal Revenue Service ( IRS), the federal agency that collects taxes nationwide.

According to information from The Hill, this bill is popular among the Republican caucus of the House of Representatives.

Andy Biggs, one of the promoters of the FairTax Act and also an ally of Trump, expressed his support for the law, assuring that “everyone would pay the same tax.” “The rich couldn’t help it.”

Likewise, the FairTax Law has among its defenders the governor of Florida, Ron DeSantis, who has expressed his support for the regulation on several occasions.

Buddy Carter, a Republican congressman, opined that, despite the fact that it needs to be worked on, the FairTax Act would empower the citizens of the United States. “It would give them the possibility to decide what taxes they want to pay. I think the vast majority of people prefer a consumption tax to a property or income tax,” he said, according to The Hill.

And why is the FairTax Act so criticized by Donald Trump?

The spokeswoman for the political action committee MAGA Inc. (which was founded by Donald Trump to obtain financing for his presidential campaign), Karoline Leavitt, assured in an opinion editorial published in early June that the FairTax Act, in her opinion, “it would disproportionately affect working-class and middle-class families,” citing a Brookings Institute study that revealed that at least 90% of workers would see their taxes increased under this system.

In addition, MAGA Inc. began, last month, to question DeSantis’ support for the FairTax Act, indicating that the Florida governor and also a presidential candidate wanted to make “families pay more.”

The DeSantis political team has defended itself against these accusations by explaining that the FairTax Act, as we have mentioned, not only implies the establishment of a national excise tax, but would eliminate the tax burden on wages and abolish the IRS.

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By Scribe