More on the Fairtax Act

Came across this today.
223 words
12 August 2004
US Fed News
? Copyright 2004. Hindustan Times. All rights reserved.
WASHINGTON, Aug. 12 — Rep. Steve King, R-Iowa (5th CD), issued the following press release:
Iowa Rep. Steve King applauded Chairman Thomas today for agreeing to hold a hearing on major tax reforms, including the FairTax.
As news sources reported yesterday, Representative Bill Thomas, Chairman of the House Ways and Means Committee, announced that his committee would consider replacing the federal income tax with a national sales tax.
“I have been working to move to a national sales tax, or FairTax, even before I was elected to Congress”, said King. We should abolish all federal income taxes, including the regressive payroll tax, and replace them with the FairTax (HR 25), a federal retail sales tax on all new goods and services purchased for personal consumption.”
“I am glad to hear that my efforts to get a hearing on the FairTax have been successful and that Chairman Thomas is open to the idea of a FairTax. I am looking forward to working with him in the coming months.”
Speaker Hastert has recently called for monumental tax reform in his new book, including consideration of a national sales tax.
“It is time to abolish the IRS and unleash the productive sector of our economy”, said King