Senator Richard Shelby has re-introduced legislation that would establish a flat tax.

The Simplified, Manageable and Responsible Tax – or SMART Act – would set a 17% tax on all income.

The senator said “Our nation’s current tax code is complex, unclear and it’s costly to hardworking Americans.  Every year on Tax Day, we’re reminded of this unfortunate reality,” adding “If my legislation, the SMART Act, was in place instead of current law, taxpayers would file a simple return the size of a postcard.  Should Congress pass my bill, every American would be taxed equally and at the same rate.”

The bill does allow some personal tax exemptions:

• $14,590 for a single person;
• $18,630 for head of a household
• $29,190 for a married couple filing jointly; and
• $6,290 for each dependent.

The Allowances would be adjusted to the consumer price index – also, earnings from savings would not be included as taxable income.

(AL.COM/www.al.com)