Kevin Maccarthy Washington Kevin Maccarthy Washington

National Sales-Tax Plan Gains Attention in House GOP

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wsj.com

WASHINGTON—A decades-old proposal to replace federal income, estate and payroll taxes with a national sales tax has gained support and attention in the new House GOP majority, but House Speaker Kevin McCarthy said he doesn’t favor the policy.The so-called FairTax, if enacted, would be the largest structural change in U.S.

taxation in 110 years. Wages, capital gains and corporate profits would become tax-free. The new levy would hit consumption instead.

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