With a new majority in the chamber, House Republicans are reviving a proposal to institute a 30% national sales tax.

Georgia Rep. Buddy Carter introduced the tax reform proposal, AKA the Fair Tax Act, earlier this month. (NYT)

If passed, the bill would abolish all individual and corporate income taxes in favor of a 30% national sales tax. (NYT)

What federal taxes would the plan abolish? (NYT) 🧾Payroll tax 🧾Estate tax 🧾Self-employment tax 🧾Gift tax

According to Vox, the bill would also abolish all tax credits, such as the earned income tax credit and child tax credit.

What will be taxed under the national sales tax? Virtually everything, from groceries to property to health care. (Vox)

That's not all: the bill would also abolish the IRS, offloading the collection of sales tax onto the states. (CBS News)

Carter: "This bill will eliminate the need for the [IRS] entirely by simplifying the tax code."

Carter's bill sparked backlash from Democrats, who said the plan would increase the tax burden on the middle class.

Does the bill have support in the House? 23 House Republicans have co-sponsored the bill, as of Thu.. (The Hill)

Will the bill come up for the floor vote? Probably not: Speaker Kevin McCarthy told CNN on Tue. that he opposed the bill.

Senate Majority Leader Chuck Schumer also told reporters Wed. that the bill was DOA in the Senate.