[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2214 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2214

To amend the Internal Revenue Code of 1986 to provide for a designation 
 of tax overpayments to reduce the public debt, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 16, 2011

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

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide for a designation 
 of tax overpayments to reduce the public debt, 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 ``Debt Elimination By Tax-Deductible 
Contribution Act of 2011''.

SEC. 2. DESIGNATION OF DONATIONS FOR REDUCTION OF PUBLIC DEBT.

    (a) In General.--Subchapter A of chapter 61 of the Internal Revenue 
Code of 1986 is amended by adding at the end the following new part:

       ``PART IX--DESIGNATION FOR DONATION TO REDUCE PUBLIC DEBT

``Sec. 6097. Designation for donation to reduce public debt.

``SEC. 6097. DESIGNATION FOR DONATION TO REDUCE PUBLIC DEBT.

    ``(a) In General.--Every taxpayer who makes a return of the tax 
imposed by subtitle A for any taxable year may designate that a 
specified portion (not less than $1) of the amount of any overpayment 
of tax for such taxable year shall be deposited in the general fund of 
the Treasury to be used to reduce the public debt.
    ``(b) Manner and Time of Designation.--A designation under 
subsection (a) may be made with respect to any taxable year--
            ``(1) at the time of filing the return of the tax imposed 
        by chapter 1 for such taxable year, or
            ``(2) at any other time (after the time of filing the 
        return of the tax imposed by chapter 1 for such taxable year) 
        specified in regulations prescribed by the Secretary.
Such designation shall be made in such manner as the Secretary 
prescribes by regulations except that, if such designation is made at 
the time of filing the return of the tax imposed by chapter 1 for such 
taxable year, such designation shall be made either on the first page 
of the return or on the page bearing the taxpayer's signature.
    ``(c) Treatment of Amounts Designated.--For purposes of this title, 
the amount designated by any taxpayer under subsection (a)--
            ``(1) shall be treated as being refunded to such taxpayer 
        as of the last date prescribed for filing the return of tax 
        imposed by subtitle A (determined without regard to extensions) 
        or, if later, the date the return is filed, and
            ``(2) shall be treated as a contribution made by such 
        taxpayer to the United States on such date or, at the election 
        of the taxpayer, on the last day of the taxable year with 
        respect to which such return is filed.''.
    (b) Transfers to Account To Reduce Public Debt.--The Secretary of 
the Treasury shall, from time to time, transfer to the special account 
established by section 3113(d) of title 31, United States Code, amounts 
equal to the amounts designated under section 6097(a) of the Internal 
Revenue Code of 1986.
    (c) Clerical Amendment.--The table of parts for such subchapter A 
of such Code is amended by adding at the end the following new item:

      ``Part IX. Designation of Donation To Reduce Public Debt.''.

    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after December 31, 2010.

SEC. 3. DEDUCTIBILITY OF GIFTS TO THE UNITED STATES TO REDUCE THE 
              PUBLIC DEBT.

    Subsection (d) of section 3113 of title 31, United States Code, is 
amended by adding at the end the following new sentence: ``For 
deductibility of gifts to the United States to reduce the public debt, 
see the deduction for charitable contributions and gifts under section 
170 of the Internal Revenue Code of 1986.''.
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