![]() ![]() The new tax would apply broadly to nearly everything Americans buy, including goods and services often exempt from state sales taxes, such as housing, health care, and groceries.*** The Fair Tax Act includes a “ family consumption allowance” that would provide families with a “prebate,” calculated as a percentage of the federal poverty level, designed to offset the taxes due on a baseline level of necessities. ![]() Yet described in more conventional terms-such as those used for existing state sales taxes-the $30 paid in tax is, in reality, a 30 percent tax on the cost of the goods or services purchased. 25 would impose $30 in tax on each $100 purchase.** Proponents call this a “23 percent tax” because the $30 tax payment is 23 percent of the tax-inclusive price of $130. The Fair Tax Act would impose a 30 percent national sales taxīeginning in 2025, H.R. ![]()
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