Joe Biden Vows to Veto Bill to Abolish the IRS

President Joe Biden ridiculed the Republican Party on Monday for proposing a bill that would end the Internal Revenue Service (IRS) and income taxes.

“They’re fiscally demented, I think,” he said, referring to Republicans.

The president spoke about Republican economic proposals during a breakfast speech for Martin Luther King Jr. Day hosted by Al Sharpton’s National Action Network.

Biden raised concerns about the Republican plan that would end the IRS and income taxes in favor of what is called the “Fair Tax” which would create a National Sales Tax administered by the states.

“They want to raise taxes on the middle class by taxing thousands of everyday items from groceries, gasoline, clothing, and cutting taxes for the wealthiest, because they want to supplant the money lost from taxes on the millionaires and billionaires with a sales tax on virtually everything in the country,” he said.

The Rev. Al Sharpton gestures to the podium after introducing President Joe Biden to speak at the National Action Network’s Martin Luther King, Jr., Day breakfast, Monday, Jan. 16, 2023, in Washington. (AP Photo/Susan Walsh)

The Fair Tax Act was introduced by Rep. Buddy Carter (R-GA) who pitched it as a way to ease the tax burden on Americans. More in comments.