Telephone Excise Tax Repeal Act of 2024

HR 7276, the Telephone Excise Tax Repeal Act of 2024, eliminates a federal excise tax on telephone and communications services that has been part of the Internal Revenue Code since 1986. The bill removes Chapter 33, Subchapter B (which imposed the tax) from the tax code and makes minor technical adjustments to other sections to maintain consistency. This repeal directly affects consumers and businesses that previously paid this tax on phone service bills, as it will no longer be charged for services billed more than 90 days after the law's enactment. The change is purely procedural, removing an existing tax without creating new obligations or altering other tax policies.