Original Status

AAB- “Committee Number”- “Bill Number”:

In the Amending Congress

Date:

Authors:

Sponsors:

Title:

Preamble:

In the WHEREAS clauses, describe individual reasons why this bill should pass. End the WHEREAS clauses with “, and” so that it runs as one long sentence until the last WHEREAS clause.

Therefore:

Section #:

Section #:

Section #

AAB-05-001 bill also known as the MTTR Tax Plan will change the current use of taxes from a political use to a pragmatic one. The foundation of this tax bill is the Laffer Curve as shown in item 05-001-1.

AAB-05-001:

*All taxes in all sectors of the government's revenue stream will be decreased by 10%.

-This includes taxes on types of savings, incomes, expenditures, and inheritances.

-The 10% decrease is of the current tax, i.e. if there is a 30% tax on every dollar, which is 30 cents, then the 10% tax decrease will decrease that 30 cent tax to 27 cents or 27% because 10% of 30 cents is 3 cents.

*After one year under this new tax plan, the finance committee will look at the streams of revenue and see which of them decreased total revenue and which increased total revenue.

-For the streams that decreased in total revenue, the tax rate will be increased by 10% of the starting tax rate. In the example above that would mean that the 30 cent tax on the dollar will increase to 33 cents on the dollar.

-For the streams that increased in total revenue, the tax rate will drop another 10% of the new tax. In the example above this means that the 27 cent tax on the dollar will decrease to 24 cents on the dollar or 10% from the 27 cents, rounded up.

*Income tax will have the tax brackets change by 10% not the rate of the tax.

* This process will occur until total taxes reach its maximized tax revenue point.

Item: 05-001-1