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Kiplinger
Kiplinger
Business
Gabriella Cruz-Martínez

House GOP Bill Aims to Abolish the IRS and Rewrite the Tax Code

IRS Republican Party Donald Trump United States Billy Long Elon Musk Sales Tax the Tax Foundation
Picture of sign saying "Internal Revenue Service" on IRS building.

The Republican-controlled U.S. House of Representatives and Senate could spell disaster for the future of the IRS.

A week before Inauguration Day, a dozen GOP lawmakers introduced the Fair Tax Act of 2025. The bill seeks to abolish the IRS and repeal all personal and corporate income taxes, the death tax, gift tax, and payroll tax.

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