[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3183 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3183

     To assure that tax increases contained in the Omnibus Budget 
   Reconciliation Act of 1993 are used solely for deficit reduction.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 29, 1993

  Mr. Porter introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
     To assure that tax increases contained in the Omnibus Budget 
   Reconciliation Act of 1993 are used solely for deficit reduction.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TAX INCREASES TERMINATED IF PROJECTED ANNUAL DEFICIT SHRINKS 
              TOO SLOWLY.

    (a) Determination of Size of Federal Budget Deficit.--On or before 
January 31 of each calendar year through calendar year 1999, the 
Director of the Office of Management and Budget shall--
            (1) determine the size of the Federal budget deficit for 
        each of the 2 most recently completed fiscal years and the 
        difference in the size of those deficits; and
            (2) notify, in writing, the Secretary of the Treasury, the 
        Speaker and the minority party leader of the House of 
        Representatives, and the majority party leader and minority 
        party leader of the Senate of the information described in 
        paragraph (1).
    (b) Determination of Certain Revenues and User Fees.--On or before 
January 31 of each calendar year through calendar year 1999, the 
Secretary of the Treasury shall--
            (1) determine the net aggregate amount of Federal receipts 
        attributable to amendments to the Internal Revenue Code of 
        1986, new user fees, and any increases in existing user fees 
        contained in the Omnibus Budget Reconciliation Act of 1993 or 
        any amendment made by it; and
            (2) notify, in writing, the Speaker and the minority party 
        leader of the House of Representatives, and the majority party 
        leader and minority party leader of the Senate of the 
        information described in paragraph (1).
    (c) Relationship Between Change in the Deficit and Revenue 
Increases.--(1) The Secretary of the Treasury shall determine, based 
upon the information described in paragraph (1) of subsections (a) and 
(b), if--
            (A) the Federal annual budget deficit shrank by an amount 
        nominally less than the amount of receipts described in 
        subsection (b)(1) for the most recently completed fiscal year 
        (and to what extent);
            (B) the Federal annual budget deficit shrank by an amount 
        nominally equal to or greater than the amount of receipts 
        described in subsection (b)(1) for the most recently completed 
        fiscal year (and to what extent); or
            (C) the annual budget deficit increased (and to what 
        extent).
    (2) On or before February 14 of each calendar year through calendar 
year 1999, the Secretary of the Treasury shall notify, in writing, the 
Speaker and the minority party leader of the House of Representatives, 
and the majority party leader and minority party leader of the Senate 
of the determination made under paragraph (1).
    (d) Tax Changes Terminate If Spending Increase Not Rescinded.--If, 
the Secretary of the Treasury makes a determination described under 
subsection (c)(1)(A) or (C) for the most recently completed fiscal 
year, then--
            (1) the Internal Revenue Code of 1986 shall be applied 
        without regard to any legislation referred to in subsection 
        (b)(1)--
                    (A) in the case of excise taxes, with respect to 
                periods after the close of such 45-day period; and
                    (B) in the case of income taxes, with respect to 
                taxable years ending on or after the close of such 45-
                day period; and
            (2) in the case of user fees, any provision of Federal law 
        imposing any user fee shall be applied without regard to any 
        legislation referred to in subsection (b)(1) with respect to 
        periods after the close of such 45-day period.
    (e) 45-Day Period.--For purposes of this section, the ``45-day 
period'' shall be the 45-calendar day period commencing on the day 
after the date upon which the Secretary of the Treasury makes the 
notifications required by subsection (c)(2).
    (f) Suspension.--The preceding provisions of this section shall be 
suspended upon a declaration of war by the Congress.

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