[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2526 Introduced in House (IH)]

  1st Session
                                H. R. 2526

 To create a Creative Revenues Commission, to facilitate the reform of 
            the Federal tax system, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 24, 1995

  Mr. Owens introduced the following bill; which was referred to the 
Committee on Ways and Means, and in addition to the Committee on Rules, 
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

_______________________________________________________________________

                                 A BILL


 
 To create a Creative Revenues Commission, to facilitate the reform of 
            the Federal tax system, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Creative Revenues Act of 1995''.

SEC. 2. CONGRESSIONAL FINDINGS.

    The Congress finds that--
            (1) in 1943, corporations carried almost 40 percent of the 
        Federal tax burden while individuals carried 27 percent;
            (2) in 1995, corporations carry only 11.2 percent of the 
        Federal tax burden while individuals carry 43.7 percent;
            (3) despite this imbalance, corporations are generating 
        large profits while they streamline and downsize at the expense 
        of at least 500,000 American jobs each year;
            (4) many proposals have been offered to reform the Federal 
        tax system, including a national sales tax, a flat tax, a 
        value-added tax, and a tax system exempting savings from 
        taxation;
            (5) these proposals have merit and deserve to be examined;
            (6) nonetheless, none of these proposals address the fact 
        that the Nation's tax burden has shifted dramatically over the 
        past 5 decades from the shoulders of corporate America to the 
        backs of American workers;
            (7) ways to correct this imbalance must be developed and 
        implemented;
            (8) for the first time in American history, median wages of 
        full-time male workers have fallen for more than 2 decades, 
        therefore making it necessary to reduce taxes on wages; and for 
        the first time in American history, a majority of workers have 
        suffered real wage reductions while the per capita domestic 
        product has advanced;
            (9) technology advances have created important, potential 
        new revenue sources, such as selling or leasing the 
        radiofrequency spectrum, which must be thoroughly explored; and
            (10) laws related to the sale of publicly owned assets, 
        such as land for mining, grazing, or other purposes, also must 
        be thoroughly explored.

SEC. 3. REVENUE REFORM.

    (a) Implementation by Secretary of Regulatory Reforms.--The 
Secretary of the Treasury shall implement all revenue raising measures 
which--
            (1) are recommended by the Creative Revenues Commission in 
        the report transmitted to the Secretary under section 5(c)(1), 
        and
            (2) may be implemented under the regulatory authority of 
        the Secretary.
The Secretary shall complete the implementation of all such measures 
not later than September 30, 2002, except that no such measure may be 
initiated before January 1, 1999. Implementation of any revenue raising 
measures under this section shall include disseminating information 
about such revenue raising measures to the public.
    (b) Implementation of Non-Regulatory Reforms.--Legislation to 
implement the measures which are recommended by the Commission in the 
report transmitted under section 5(c)(1) and which may not be 
implemented under the regulatory authority of the Secretary shall be 
introduced and considered as provided in sections 9 and 10.

SEC. 4. CONDITIONS FOR REGULATORY REFORM.

    (a) In General.--The Secretary may not carry out any revenue 
raising measure under this Act unless--
            (1) not later than January 14, 1998, the Secretary 
        transmits to the Committee on Ways and Means of the House of 
        Representatives and the Committee on Finance of the Senate a 
        report containing a statement that the Secretary has approved 
        and will implement all of the revenue raising measures which 
        are recommended by the Commission in the report transmitted 
        under section 5(c)(1) and which may be implemented under the 
        regulatory authority of the Secretary; and
            (2) the Commission has recommended, in the report 
        transmitted under section 5(c)(1), the revenue raising measure 
        and has transmitted to the Committee on Ways and Means of the 
        House of Representatives and the Committee on Finance of the 
        Senate a copy of such report and the statement required by 
        section 5(c)(2).
    (b) Joint Resolution.--The Secretary may not implement any revenue 
raising measure recommended by the Commission in the report transmitted 
under section 5(c)(1) if, within the 45-day period beginning on March 
1, 1998, a joint resolution is enacted, in accordance with the 
provisions of sections 8 and 10, disapproving the recommendations of 
the Commission. The days on which either House of Congress is not in 
session because of an adjournment of more than 3 days to a day certain 
shall be excluded in the computation of such 45-day period.

SEC. 5. CREATIVE REVENUES COMMISSION.

    (a) Establishment.--There is established the Secretary of the 
Treasury's Creative Revenues Commission.
    (b) Membership.--The Commission shall consist of 11 members, 
appointed by the Secretary of Treasury, who have broad experience in 
Government and in tax and revenue issues. The Secretary shall designate 
2 Chairpersons from among the members of the Commission. The Secretary 
shall appoint the members of the Commission not later than 90 days 
after the date of the enactment of this Act.
    (c) Duties.--
            (1) Report.--The Commission shall transmit to the 
        Secretary, not later than December 31, 1997, a report 
        containing a description of--
                    (A) all revenue raising measures which the 
                Commission considered;
                    (B) the revenue raising measures which the 
                Commission recommends;
                    (C) the rationale of the Commission for such 
                recommendations; and
                    (D) the manner in which such recommendations, in 
                the aggregate, if implemented, would balance the 
                Federal tax burden equally between corporations and 
                individuals.
            (2) Transmission to committees.--The Commission shall, on 
        the same date on which the Commission transmits the report to 
        the Secretary under subparagraph (A), transmit to the Committee 
        on Ways and Means of the House of Representatives and the 
        Committee on Finance of the Senate--
                    (A) a copy of such report; and
                    (B) a statement certifying that the Commission has 
                identified the revenue raising measures to be 
                implemented by reviewing--
                            (i) various forms of taxation that exist in 
                        different countries;
                            (ii) other possible ways for the Federal 
                        Government to raise revenue; and
                            (iii) possible ways to balance the Federal 
                        tax burden equally between corporations and 
                        individuals.
    (d) Administration.--
            (1) Members of the Commission shall serve without 
        compensation for their work on the Commission, except that 
        members who are not employees of the United States (determined 
        without regard to service on the Commission) may be allowed 
        travel expenses, including per diem in lieu of subsistence, as 
        authorized under section 5703 of title 5, United States Code, 
        for persons serving intermittently in the Government service, 
        to the full extent funds are available (subject to 
        appropriations).
            (2) The Secretary shall provide the Commission with such 
        administrative services, facilities, staff, and other support 
        services as may be necessary. Subject to appropriations, any 
        expenses of the Commission shall be paid from such funds as may 
        be available to the Secretary.
            (3) Not more than one-half of the professional staff of the 
        Commission shall be individuals who have been employed by the 
        Department of the Treasury during calendar year 1997 in any 
        capacity other than as an employee of the Commission.
            (4) The Commission shall be in place and operating as soon 
        as possible, shortly after which time the Commission shall 
        brief the Secretary on the Commission's plan of action.
            (5) The report transmitted under subsection (c)(1) shall 
        include a recommendation for a revenue raising measure only if 
        such recommendation is approved by a vote of a majority of the 
        members of the Commission.

SEC. 6. REPORTS.

    As part of each annual budget request for the Department of the 
Treasury, the Secretary shall transmit to the appropriate committees of 
the Congress--
            (1) a schedule of the revenue raising measures to be 
        implemented under this Act in the fiscal year for which the 
        request is made;
            (2) an estimate of the total expenditures required by each 
        such revenue raising measure;
            (3) an estimate of the Federal Government cost savings to 
        be achieved, or cost increases to be generated, by each such 
        revenue raising measure and of the time period in which such 
        savings or increases are to be achieved or generated; and
            (4) an estimate of the amounts of the increases or 
        decreases, in the amounts of Federal tax paid by individual and 
        corporate taxpayers of various incomes, to be generated or 
        achieved by each such revenue raising measure and of the time 
        period in which such increases or decreases are to be generated 
        or achieved.

SEC. 7. FUNDING.

    (a) Account.--There is hereby established in the Treasury of the 
United States an account to be known as the ``Department of the 
Treasury Revenue Reform Account'', which shall be administered by the 
Secretary as a single account.
    (b) Amounts Deposited Into Account.--There shall be deposited into 
the Account--
            (1) funds authorized for and appropriated to the Account 
        with respect to fiscal year 1999 and fiscal years beginning 
        thereafter; and
            (2) any funds that the Secretary may, subject to approval 
        in an appropriation Act, transfer to the Account from funds 
        appropriated to the Department of the Treasury for any purpose, 
        except that such funds may be transferred only after the date 
        on which the Secretary transmits written notice of, and 
        justification for, such transfer to the appropriate committees 
        of the Congress.
    (c) Use of Account Funds.--The Secretary may use the funds in the 
Account only for the purposes of implementing revenue raising measures 
under this Act.
    (d) Annual Reports.--Not later than 60 days after the end of each 
fiscal year in which the Secretary carries out activities under this 
Act, the Secretary shall transmit a report to the appropriate 
committees of Congress of the amount and nature of the deposits into, 
and the expenditures from, the Account during such fiscal year and of 
the amount and nature of other expenditures made by the Secretary 
pursuant to implementation of revenue raising measures under this Act 
during such fiscal year.
    (e) Transfer of Unobligated Funds.--Unobligated funds which remain 
in the Account after September 30, 2002, shall be held in the Account 
until transferred by law after the appropriate committees of the 
Congress receive the report transmitted under subsection (f).
    (f) Final Report.--Not later than November 30, 2002, the Secretary 
shall transmit to the appropriate committees of the Congress a report 
containing an accounting of--
            (1) all of the funds deposited into and expended from the 
        Account or otherwise expended by the Secretary under this Act; 
        and
            (2) any amount remaining in the Account.

SEC. 8. CONGRESSIONAL CONSIDERATION OF REGULATORY REFORMS RECOMMENDED 
              IN COMMISSION REPORT.

    (a) Terms of Resolution.--For purposes of section 4(b), the term 
``joint resolution'' means only a joint resolution which is introduced 
before March 15, 1998, and--
            (1) which does not have a preamble;
            (2) the matter after the resolving clause of which is as 
        follows: ``That Congress disapproves the recommendations of the 
        Creative Revenues Commission established by the Secretary of 
        the Treasury as submitted to the Secretary of the Treasury on 
        ________'', the blank space being appropriately filled in; and
            (3) the title of which is as follows: ``Joint resolution 
        disapproving the recommendations of the Creative Revenues 
        Commission.''.
    (b) Referral.--A resolution described in subsection (a) and 
introduced in the House of Representatives shall be referred to the 
Committee on Ways and Means of the House. A resolution described in 
subsection (a) and introduced in the Senate shall be referred to the 
Committee on Finance of the Senate.

SEC. 9. CONGRESSIONAL CONSIDERATION OF NON-REGULATORY REFORMS 
              RECOMMENDED IN COMMISSION REPORT.

    (a) Introduction.--Not later than March 14, 1998, the Speaker of 
the House of Representatives and the President pro tempore of the 
Senate shall introduce, in their respective houses, legislation to 
implement the measures which are recommended in the report transmitted 
under section 5(c)(1) and which may not be implemented by regulatory 
action.
    (b) Referral.--Legislation described in subsection (a) and 
introduced in the House of Representatives shall be referred to the 
Committee on Ways and Means of the House. Legislation described in 
subsection (a) and introduced in the Senate shall be referred to the 
Committee on Finance of the Senate.

SEC. 10. PROCEDURE FOR CONSIDERATION.

    (a) Discharge.--If the committee to which reform legislation is 
referred has not reported such reform legislation (or identical 
legislation) before March 15, 1998, such committee shall be, as of 
March 15, 1998, discharged from further consideration of such reform 
legislation, and such reform legislation shall be placed on the 
appropriate calendar of the House involved.
    (b) Consideration.--
            (1) On or after the third day after the date on which the 
        committee to which such reform legislation is referred has 
        reported, or has been discharged (under subsection (a)) from 
        further consideration of, such reform legislation, it is in 
        order (even though a previous motion to the same effect has 
        been disagreed to) for any Member of the respective House to 
        move to proceed to the consideration of such reform legislation 
        (but only on the day after the calendar day on which such 
        Member announces to the House concerned the Member's intention 
        to do so). All points of order against such reform legislation 
        (and against consideration of such reform legislation) are 
        waived. The motion is highly privileged in the House of 
        Representatives and is privileged in the Senate and is not 
        debatable. The motion is not subject to amendment, or to a 
        motion to postpone, or to a motion to proceed to the 
        consideration of other business. A motion to reconsider the 
        vote by which the motion is agreed to or disagreed to shall not 
        be in order. If a motion to proceed to the consideration of 
        such reform legislation is agreed to, the respective House 
        shall immediately proceed to consideration of such reform 
        legislation without intervening motion, order, or other 
        business, and such reform legislation shall remain the 
        unfinished business of the respective House until disposed of.
            (2) Debate on such reform legislation, and on all debatable 
        motions and appeals in connection therewith, shall be limited 
        to not more than 10 hours, which shall be divided equally 
        between those favoring and those opposing such reform 
        legislation. An amendment to such reform legislation is not in 
        order. A motion further to limit debate is in order and not 
        debatable. A motion to postpone, or a motion to proceed to the 
        consideration of other business, or a motion to recommit such 
        reform legislation is not in order. A motion to reconsider the 
        vote by which such reform legislation is agreed to or disagreed 
        to is not in order.
            (3) Immediately following the conclusion of the debate on 
        such reform legislation, and a single quorum call at the 
        conclusion of the debate if requested in accordance with the 
        rules of the appropriate House, the vote on final passage of 
        such reform legislation shall occur.
            (4) Appeals from the decisions of the Chair relating to the 
        application of the rules of the Senate or the House of 
        Representatives, as the case may be, to the procedure relating 
        to such reform legislation shall be decided without debate.
    (c) Consideration by Other House.--
            (1) If, before the passage by one House of reform 
        legislation, that House receives from the other House such a 
        reform legislation, then the following procedures shall apply:
                    (A) Such reform legislation of the other House 
                shall not be referred to a committee and may not be 
                considered in the House receiving it except in the case 
                of final passage as provided in subparagraph (B)(ii).
                    (B) With respect to such reform legislation of the 
                House receiving the reform legislation--
                            (i) the procedure in that House shall be 
                        the same as if such reform legislation had not 
                        been received from the other House; but
                            (ii) the vote on final passage shall be on 
                        such reform legislation of the other House.
            (2) Upon disposition of the reform legislation received 
        from the other House, it shall no longer be in order to 
        consider such reform legislation that originated in the 
        receiving House.
    (d) Rules of the Senate and House.--This section, and sections 8 
and 9, are enacted by the Congress--
            (1) as an exercise of the rulemaking power of the Senate 
        and House of Representatives, respectively, and as such are 
        deemed a part of the rules of each House, respectively, but are 
        applicable only with respect to the procedure to be followed in 
        that House in the case of a reform legislation, and supersede 
        other rules only to the extent inconsistent with such rules; 
        and
            (2) with full recognition of the constitutional right of 
        either House to change the rules (so far as relating to the 
        procedure of that House) at any time in the same manner, and to 
        the same extent, as in the case of any other rule of that 
        House.

SEC. 11. DEFINITIONS.

    For purposes of this Act:
            (1) Account.--The term ``Account'' means the Department of 
        the Treasury Revenue Reform Account established by section 
        7(a).
            (2) Appropriate committees of congress.--The term 
        ``appropriate committees of Congress'' means the Committee on 
        Ways and Means of the House, the Committee on Finance of the 
        Senate, and the Committees on Appropriations of the House and 
        Senate.
            (3) Creative revenues commission; commission.--The terms 
        ``Creative Revenues Commission'' and ``Commission'' mean the 
        Secretary of the Treasury's Creative Revenues Commission 
        established by section 5.
            (4) Reform legislation.--The term ``reform legislation'' 
        means a resolution described in section 8(a) or legislation 
        described in section 9(a).
            (5) Revenue raising measure.--The term ``revenue raising 
        measure'' means a proposal to amend the Internal Revenue Code 
        of 1986, a proposal to implement a regulatory change to 
        enforcement or interpretation of such Code, or any other 
        proposal to raise revenue for the Federal Government.
            (6) Secretary.--The term ``Secretary'' means the Secretary 
        of the Treasury.
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