Gingrich Proposes Tax Amnesty

House Speaker Newt Gingrich proposed Sunday that Americans with overdue taxes be given a one-year amnesty to pay up without penalties. The move could bring in billions of dollars in extra revenue as Congress and the White House struggle to balance the budget, he said on “Fox News Sunday.”

Gingrich (R-Ga.) said the proposal, which has already been tried by several states, would give people a onetime opportunity to “pay up their back taxes to clear the board, and then we would have stiffer penalties if they didn’t take advantage of the amnesty.”