Comprehensive Transform America Transaction Fee Act of 2009

H.R. 1703, the Comprehensive Transform America Transaction Fee Act of 2009, would have directed the Department of the Treasury to study the feasibility of replacing all current federal taxes—including income, payroll, and estate taxes—with a single fee on every financial transaction. This study would have examined how to set the fee rate, which transactions to exempt, and how to ensure the system remained fair for taxpayers of different income levels. If implemented based on the study's findings, the bill could have fundamentally changed how citizens interact with the federal government by eliminating tax returns in favor of a small fee automatically collected during every purchase or financial transfer.