The Flat Tax and Other Proposals: Effects on Housing
Description
Several proposals for major reform of the Federal income tax system, including replacement of the current tax with a new type of tax, have been introduced or considered in the 104th Congress. Among the most widely discussed are the flat tax, a value-added tax, a national sales tax, a proposal for a direct consumption tax (called the USA tax), and income tax reform. Most of these new taxes convert the tax base from an income to a consumption base, most eliminate deductions for mortgage interest and property taxes, and most flatten the rate structure--in some cases by adopting a single …
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Description
Several proposals for major reform of the Federal income tax system, including replacement of the current tax with a new type of tax, have been introduced or considered in the 104th Congress. Among the most widely discussed are the flat tax, a value-added tax, a national sales tax, a proposal for a direct consumption tax (called the USA tax), and income tax reform. Most of these new taxes convert the tax base from an income to a consumption base, most eliminate deductions for mortgage interest and property taxes, and most flatten the rate structure--in some cases by adopting a single tax rate. While these tax revisions touch on all aspects of the economy, this paper focuses on the effects on housing.
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Congressional Research Service Reports
The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.
Gravelle, Jane G.The Flat Tax and Other Proposals: Effects on Housing,
report,
April 29, 1996;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metacrs360/:
accessed May 31, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.