[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2884 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 2884

     To provide that the income tax instructions shall include an 
 explanation of any law under which the Federal budget is projected to 
                       be in balance in 7 years.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 25, 1996

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

_______________________________________________________________________

                                 A BILL


 
     To provide that the income tax instructions shall include an 
 explanation of any law under which the Federal budget is projected to 
                       be in balance in 7 years.

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

SECTION 1. TAXPAYERS TO BE INFORMED OF OUTLAYS UNDER 7-YEAR BUDGET 
              AGREEMENT.

    Section 7523 of the Internal Revenue Code of 1986 (relating to 
graphic presentation of major categories of Federal outlays and 
expenditures) is amended by adding at the end the following new 
subsection:
    ``(c) 7-Year Plan To Balance Federal Budget.--
            ``(1) In general.--If a law is enacted which is projected 
        to balance the Federal budget in 7 fiscal years, the Secretary 
        shall include in a prominent place in the booklets of 
        instructions referred to in subsection (a)--
                    ``(A) an explanation of such law, and
                    ``(B) a pie-shaped graph showing the projected 
                relative sizes of the major outlay categories (as 
                defined in subsection (b)) for each of such 7 fiscal 
                years.
        Such explanation and graph shall be prepared jointly by the 
        Chairmen of the Committees on the Budget of both Houses of 
        Congress.
            ``(2) Year to which requirement applies.--The requirement 
        imposed by paragraph (1) shall apply only to the booklets of 
        instructions for taxable years which begin in the first 
        calendar year beginning more than 6 months after the date of 
        the enactment of the law referred to in paragraph (1).''
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