Under FairTax (HR 25)
of which I am a co-sponsor. Under this legislation, taxpayers and businesses wouldn’t pay corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, death taxes and gift taxes. The FairTax would replace the previous list of taxes with a revenue-neutral national sales tax on all new products you buy. Business-to-business transactions and used products (which have already been taxed) would not be subject to the sales tax. Learn more about the FairTax here.