3.0.0 5536 2023-01-11T13:19:54Z 2023-01-11T13:19:54Z House H HR 2010-06-16 111 hsbu00 Budget Committee House Standing Referred to 2010-06-16T14:01:44Z hswm00 Ways and Means Committee House Standing Referred to 2010-06-16T14:01:43Z Debt Buy-Down Act 111 3496 S 2010-06-16 Read twice and referred to the Committee on Finance. Identical bill CRS 2010-06-16 Referred to House Budget IntroReferral H11100 2 House floor actions hsbu00 Budget Committee 2010-06-16 Referred to House Ways and Means IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2010-06-16 Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2010-06-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-06-16 Introduced in House IntroReferral 1000 9 Library of Congress F000444 Rep. Flake, Jeff [R-AZ-6] JEFF FLAKE R AZ 6 N D000533 Rep. Duncan, John J., Jr. [R-TN-2] JOHN DUNCAN R TN J. 2 2010-07-01 False B001149 Rep. Burton, Dan [R-IN-5] DAN BURTON R IN 5 2010-07-01 False S000244 Rep. Sensenbrenner, F. James, Jr. [R-WI-5] F. SENSENBRENNER R WI JAMES 5 2010-07-01 False P000599 Rep. Posey, Bill [R-FL-15] Bill Posey R FL 15 2010-07-01 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2010-07-01 False B001250 Rep. Bishop, Rob [R-UT-1] Rob Bishop R UT 1 2010-07-01 False P000587 Rep. Pence, Mike [R-IN-6] MIKE PENCE R IN 6 2010-07-01 False B000208 Rep. Bartlett, Roscoe G. [R-MD-6] ROSCOE BARTLETT R MD G. 6 2010-07-01 False G000560 Rep. Graves, Tom [R-GA-9] Tom Graves R GA 9 2010-07-01 False I000056 Rep. Issa, Darrell E. [R-CA-49] DARRELL ISSA R CA E. 49 2010-07-01 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2010-07-01 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2010-07-01 False P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2010-07-01 False B000213 Rep. Barton, Joe [R-TX-6] JOE BARTON R TX L. 6 2010-07-01 False J000174 Rep. Johnson, Sam [R-TX-3] SAM JOHNSON R TX 3 2010-07-01 False B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2010-07-01 False G000550 Rep. Gingrey, Phil [R-GA-11] Phil Gingrey R GA 11 2010-07-01 False C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2010-07-01 False G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2010-07-01 False C001048 Rep. Culberson, John Abney [R-TX-7] JOHN CULBERSON R TX ABNEY 7 2010-07-01 False K000362 Rep. King, Steve [R-IA-5] Steve King R IA 5 2010-07-01 False S000275 Rep. Shadegg, John B. [R-AZ-3] JOHN SHADEGG R AZ 3 2010-07-01 False L000564 Rep. Lamborn, Doug [R-CO-5] Doug Lamborn R CO 5 2010-07-01 False S001179 Rep. Schock, Aaron [R-IL-18] Aaron Schock R IL 18 2010-07-01 False F000448 Rep. Franks, Trent [R-AZ-2] Trent Franks R AZ 2 2010-07-01 False L000517 Rep. Lungren, Daniel E. [R-CA-3] DANIEL LUNGREN R CA EDWARD 3 2010-07-01 False O000168 Rep. Olson, Pete [R-TX-22] Pete Olson R TX 22 2010-07-01 False L000566 Rep. Latta, Robert E. [R-OH-5] Robert Latta R OH E. 5 2010-07-01 False B001239 Rep. Barrett, J. Gresham [R-SC-3] J. Barrett R SC Gresham 3 2010-07-01 False C001062 Rep. Conaway, K. Michael [R-TX-11] K. Conaway R TX Michael 11 2010-07-01 False I000023 Rep. Inglis, Bob [R-SC-4] BOB INGLIS R SC 4 2010-07-15 False C001076 Rep. Chaffetz, Jason [R-UT-3] Jason Chaffetz R UT 3 2010-07-15 False H000676 Rep. Hoekstra, Peter [R-MI-2] PETER HOEKSTRA R MI 2 2010-07-15 False H000528 Rep. Herger, Wally [R-CA-2] WALLY HERGER R CA 2 2010-07-27 False Taxation Budget deficits and national debt Budget process Government trust funds Tax administration and collection, taxpayers Taxation 00 2010-06-16 Introduced in House 2010-07-21T21:14:33Z Debt Buy-Down Act - Amends the Internal Revenue Code to allow individual taxpayers to designate up to 10% of their adjusted income tax liability for the reduction of the public debt.

Establishes in the Treasury the Public Debt Reduction Trust Fund to hold tax revenues generated by this Act for the reduction of the public debt.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to require a sequestration of federal spending equivalent to the estimated aggregate amount designated by taxpayers under this Act to reduce the public debt. Prohibits any reduction in social security retirement benefits, veterans benefits, or interest payments on federal debt as a result of any such sequestration.

]]> Debt Buy-Down Act Display Title Debt Buy-Down Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow individuals to designate that up to 10 percent of their income tax liability be used to reduce the national debt, and to require spending reductions equal to the amounts so designated. Introduced in House IH Short Titles as Introduced Debt Buy-Down Act Introduced in House 2010-06-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr5536ih/xml/BILLS-111hr5536ih.xml 2010-06-16 Referred to House Budget text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.