Date Certain Tax Code Replacement Act

H.R. 2714, the Date Certain Tax Code Replacement Act, proposed a fundamental overhaul of the American tax system by setting a "sunset" date to abolish most of the existing Internal Revenue Code. Under this bill, nearly all federal taxes—with the exception of Social Security, Medicare, and Railroad Retirement taxes—would have expired after December 31, 2005.

The legislation was designed to force the creation of a new federal tax system by establishing a National Commission on Tax Reform and Simplification to study more efficient and fair alternatives to the current income tax. For everyday citizens, this would have meant the complete elimination of the existing tax code by 2005, requiring Congress to either approve a new, simplified tax structure or vote to reauthorize the old system before that deadline.