U.S, Rep. Rob Woodall (R-GA-07) credited the American people with ensuring the FairTax is considered as a viable option for tax reform. The legislation was included during Tuesday's hearings by the Ways and Means Committee on the economic impact of the consumption-based tax models. , H.R. 25, now has 62 co-sponsors.
“Today’s hearing is a giant step forward not only for the FairTax, but for the legislative process,” Woodall said in a press release. “The American people are calling for tax reform and the leaders in Washington are responding. By holding hearings and by learning as much as we can about how to move this nation forward in the right fiscal direction, I am certain that the FairTax will rise to the top as the most sensible tax reform solution.”
The FairTax would provide a complete overhaul of the nation’s 67,000-page tax code and replace it with a 23 percent consumption tax on the purchase of new goods and services, which would be collected at the completion of a sale. Woodall says that under the FairTax, individuals would be able to choose when and how they pay taxes.
Former Governor Mike Huckabee, Boston University Professor Laurence Kotlikoff, Sufolk University Professor David Tuerck and columnist Bruce Bartlett all testified on the FairTax panel.
“I would like to thank Ways and Means Chairman Dave Camp for his leadership in bringing the FairTax before his committee,” Woodall said. “I would also like to thank the American people for exercising their political will and calling for a hearing on this important piece of legislation. The FairTax will return power to the American people, and I will continue to work for its success in Congress.”
Woodall’s Seventh District includes all of Barrow and Walton counties, most of Gwinnett County, and portions of Forsyth and Newton counties.