[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 489 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                 S. 489

 To provide an automatic tax rebate when the Federal tax burden grows 
  faster than the personal income of working Americans, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 25, 1999

   Mr. Grams introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To provide an automatic tax rebate when the Federal tax burden grows 
  faster than the personal income of working Americans, 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 ``National Tax Rebate Act of 1999''.

SEC. 2. NATIONAL TAX REBATE OF EXCESS FEDERAL REVENUES.

    (a) In General.--Subject to section 407 of the Congressional Budget 
Act of 1974, with respect to any fiscal year in which the growth rate 
of Federal revenues exceeds the growth rate of personal income, the 
amount of Federal revenues representing such excess growth shall be 
refunded pro rata by the Secretary of the Treasury among those Federal 
individual income taxpayers reporting tax liability on Federal 
individual income tax returns filed for the taxable year ending in such 
fiscal year. Such refunds shall be made not later than 90 days after 
the last day of such fiscal year.
    (b) Definitions.--For purposes of this section--
            (1) Growth rate of federal revenues.--
                    (A) In general.--The term ``growth rate of Federal 
                revenues'' means the most recent estimate of the 
                percentage increase in Federal revenues for any fiscal 
                year over the preceding fiscal year as calculated by 
                the Office of Management and Budget.
                    (B) Federal revenues.--The term ``Federal 
                revenues'' means all taxes, fees, licenses and charges 
                for services, and other payments deposited in the 
                Treasury of the United States.
            (2) Growth rate of personal income.--The term ``growth rate 
        of personal income'' means the most recent estimate of the 
        percentage increase in total personal disposable income for any 
        fiscal year over the preceding fiscal year as calculated by the 
        Bureau of Economic Analysis of the Department of Commerce.

SEC. 3. LIMITATION ON WAIVER OF NATIONAL TAX REBATE.

    (a) Point of Order Against Waiver of National Tax Rebate of Excess 
Federal Revenues.--Title IV of the Congressional Budget Act of 1974 is 
amended by--
            (1) redesignating section 407 as section 408; and
            (2) inserting after section 406 the following:

   ``point of order against waiver of national tax rebate of excess 
                            federal revenues

    ``Sec. 407. (a) In General.--Except as otherwise provided in this 
section and notwithstanding any other provision of law, it shall not be 
in order in the Senate or House of Representatives to consider any 
bill, resolution, or resolution of ratification (or amendment, motion, 
or conference report on that bill or resolution) that would waiver the 
national tax rebate of excess Federal revenues for any fiscal year as 
determined under section 2 of the National Tax Rebate Act of 1999.
    ``(b) Exception for Declaration of War.--This section shall not 
apply if a declaration of war by the Congress is in effect.
    ``(c) Timing of Points of Order in the Senate.--A point of order 
under this section may not be raised against a bill, resolution, 
amendment, motion, or conference report while an amendment or motion, 
the adoption of which would remedy the violation of section (a), is 
pending before the Senate.
    ``(d) Points of Order in the Senate Against Amendments Between the 
Houses.--The provision of subsection (a) that establishes a point of 
order against an amendment also establishes a point of order in the 
Senate against an amendment between the Houses. If a point of order 
under subsection (a) is raised in the Senate against an amendment 
between the Houses and the point of order is sustained, the effect 
shall be the same as if the Senate had disagreed to the amendment.
    ``(e) Effect of a Point of Order in the Senate.--In the Senate, if 
a point of order under subsection (a) against a bill or resolution is 
sustained, the Presiding Officer shall then recommit the bill or 
resolution to the committee of appropriate jurisdiction for further 
consideration.
    ``(f) Waiver.--A point of order under subsection (a) may be waived 
or suspended in the Senate and the House of Representatives only by the 
affirmative vote of two-thirds of the Members, duly chosen and 
sworn.''.
    (c) Clerical Amendment.--The table of contents of the Congressional 
Budget and Impoundment Control Act of 1974 is amended in title IV by--
            (1) redesignating section 407 as section 408; and
            (2) inserting after the item for section 406 the following:

``Sec. 407. Point of order against waiver of national tax rebate of 
                            excess Federal revenues.''.
    (d) Effective Date.--The provisions of, and amendments made by, 
this section shall apply to fiscal years ending after the date of 
enactment of this Act.
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