Simplify Tax Code with Two-Rate System
Department of the Treasury / Internal Revenue Service
Enact a simple two-rate individual tax system of 15% and 30% that eliminates most deductions, credits and exclusions. Corporate tax rate reduced to 18%. Capital gains and qualified dividends taxed at 15%.
"The Treasury should work with Congress to simplify the tax code by enacting a simple two-rate individual tax system of 15 percent and 30 percent that eliminates most deductions, credits and exclusions." – Project 2025History
Mon Jan 20 2025
Initial analysis
Disruptive Potential
HIGH
Major restructuring of tax system would affect every American taxpayer's finances and create significant economic disruption during transition
Status
Planned
Related Initiatives
2 initiatives
Department of the Treasury / Internal Revenue Service
Repeal Inflation Reduction Act Tax Provisions
MODERATE
Department of the Treasury / Internal Revenue Service
Create Universal Savings Accounts
LOW