A Bill to Restructure Federal Revenue to Promote the American Taxpayer and the American Business

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Title of Legislation * A Bill to Restructure Federal Revenue to Promote the American Taxpayer and the American Business
Designation * Super Session
Date of Congress * November 10th
1 * BE IT ENACTED BY THE CONGRESS HERE ASSEMBLED THAT:
2 SECTION 1. A. The US federal corporate income tax is hereby abolished.
3 B. An annual land value tax (LVT) of 3% will apply to all landowners.
4 SECTION 2. A. The “US federal corporate income tax” refers to the current 21% tax on
5 corporate revenue.
6 B. A “land value tax” is an ad valorem tax on the unimproved value of land
7 that is collected annually on March 15. It is different from a typical
8 property tax in that it disregards the value of improved property such as
9 buildings and only takes the value of the land itself into account. Current
10 tax exemptions will apply.
11 SECTION 3. The Internal Revenue Service (IRS) will be responsible for the
12 implementation and enforcement of this bill.
13 SECTION 4. This legislation will go into effect in at the beginning of the next fiscal year.
14 SECTION 5. All laws in conflict with this legislation are hereby declared null and void.
Respectfully Submitted, Name of School * Respectfully Submitted, Stuyvesant High School

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