Fair Tax Act 2025 Buddy Carter Bill. Earl “buddy” carter of georgia on jan. 25, the fair tax act, to replace the current tax code with a national consumption tax known as the fair tax.

Instead of an income tax, the bill, known as the fair tax act, would create a 23% national sales tax. The fair tax scraps the tax code, abolishes the irs and eliminates all personal and corporate income taxes, the death tax, gift taxes, and the payroll tax.