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The USA Tax Act (H.R. 269), short for "Unlimited Savings Allowance", was a bill in the United States Congress for changing tax laws to replace the federal income taxes with a progressive consumption tax on households and a value-added tax on businesses[1] . Lawrence Lokken credits Irving Fisher[2] with the insight that consumption can be taxed by taxing income minus savings.[3] See also a later version of Lokken's book.[4] The first bill (S. 722) was introduced in the United States Senate in April 1995 by senators Sam Nunn (D-Ga.)[5] and Pete Domenici (R-N.M.).


  1. Seidman, Lawrence S. "The USA Tax - A progressive Consumption Tax".<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  2. Fisher, Irving; Herbert Wescott Fisher (1942). Constructive Income Taxation: A Proposal for Reform. University of Michigan: Harper & Brothers. p. 277.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  3. Lokken, Lawrence (October 1, 1998). Taxing USA tomorrow. (Unlimited Savings Allowance Tax). Southern Economic Journal (e-document ed.). Chicago:<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  4. Lokken, Lawrence (July 28, 2005). Taxing USA tomorrow. (Unlimited Savings Allowance Tax). Southern Economic Journal (e-document ed.). p. 30.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  5. Nunn, Sam (June 1995), The Unlimited Savings Allowance (USA) Tax Proposal, Georgia Public Policy Foundation, retrieved October 7, 2011<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>