3.0.0 745 2023-01-11T13:27:51Z 2023-01-11T13:27:51Z Senate S 2015-03-16 114 ssfi00 Finance Committee Senate Standing Referred to 2015-03-16T20:48:27Z National Debt and Taxation Transparency Act of 2016 114 6050 HR 2016-09-15 Referred to the House Committee on Ways and Means. Related bill CRS 2015-03-16 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2015-03-16 Introduced in Senate IntroReferral 10000 9 Library of Congress C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX N Taxation Budget deficits and national debt Employment taxes Government information and archives Income tax rates Tax administration and collection, taxpayers Taxation 00 2015-03-16 Introduced in Senate 2015-05-12T21:51:03Z National Debt and Taxation Transparency Act of 2015

This bill directs the Department of the Treasury, beginning not later than October 1, 2017, to provide each individual who has a valid social security number, who received a Form W-2 in the previous taxable year, and who has filed a tax return in any previous taxable year (eligible individual) with a taxpayer account statement. An initial statement must be provided to each eligible individual with a current mailing address not later than September 30, 2020.

The taxpayer account statement shall include: (1) a summary of the most recent Financial Report of the U.S. government, including the Statement of Long Term Fiscal Projections; (2) a calculation by Treasury of the eligible individual's share of the total obligations of the federal government; and (3) a 30-year calculation of the proportional increase in the federal income tax rates necessary to entirely finance the current fiscal path of the federal government, assuming there are no changes in current fiscal policy and no budget deficit.

]]> National Debt and Taxation Transparency Act of 2015 Display Title National Debt and Taxation Transparency Act of 2015 Official Title as Introduced A bill to provide debt and tax transparency to taxpayers. Introduced in Senate IS Short Titles as Introduced National Debt and Taxation Transparency Act of 2015 Introduced in Senate 2015-03-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s745is/xml/BILLS-114s745is.xml 2015-03-16 Read twice and referred to the Committee on Finance. 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.