(Washington) - Congressman Ander Crenshaw today signed on as a co-sponsor to the FairTax Act. This legislation would replace the current tax system, repealing all forms of income taxes in favor of a consumption-based sales tax.

"There's no question that the U.S. needs to reform its tax codes in favor of a more efficient, better managed system," said Rep. Crenshaw. "The FairTax Act is just that kind of reform, and it warrants a closer look. The time has come for a national dialogue on reforming our current tax system. If we don't explore our options, we're cheating ourselves."

This measure would repeal federal income, corporate income, self-employment, payroll, capital gains, Social Security, Medicare and gift and estate taxes. Instead, it would levy a 23 percent inclusive tax on the sale of all new goods and services. The FairTax would provide every family with a rebate of the sales tax equal to spending up to the federal poverty level.

The FairTax would not affect Social Security or Medicare benefits, since the amount of revenues collected would be expected to remain the same. Only the source of the revenues would change.

Since individuals would be no longer required to file taxes each year, and only retailers would have to report their taxes, this system would be simpler and more efficient. Americans currently spend approximately $250 billion a year complying with the current tax code. Under this system, the cost of paying and collecting taxes could be up to 90% less.

For more information on the FairTax, log on to www.fairtax.org