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Black woman putting money into savings jars

Source: JGI/Jamie Grill / Getty

The Republican-controlled House wants to abolish the IRS agency after Democrats bolstered the agency with new funding last year.

A dozen GOP lawmakers introduced a bill that would abolish the IRS altogether and replace the federal tax code with a national sales tax.

The proposed Republican lead bill would replace federal taxes on individual and corporate income with a national 23% sales tax in 2025 and allowing adjustments to the rate in later years. Americans would pay Uncle Sam whenever they bought a new good or service for their personal consumption.

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