[Congressional Record Volume 156, Number 153 (Monday, November 29, 2010)]
[Extensions of Remarks]
[Page E2001]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      TAXPAYER RECEIPT ACT OF 2010

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                           HON. JIM McDERMOTT

                             of washington

                    in the house of representatives

                       Monday, November 29, 2010

  Mr. McDERMOTT. Madam Speaker, Oliver Wendell Holmes said ``taxes are 
the price we pay for a civilized society'' and taxes are a very big 
topic in our national debate today. How much federal income tax people 
pay and what those taxes buy is not well understood by many Americans. 
It is hard and complicated to figure out. Very little information about 
how tax revenues are spent is ever made available to the American 
people. This results in significant misinformation. For example, a 
Washington Post and Kaiser Foundation poll found that by a margin of 
two to one, Americans believe that the federal government spends more 
on foreign aid than on either Social Security or Medicare. This is why 
I am introducing the Taxpayer Receipt Act of 2010. This bill requires 
the Secretary of the Treasury to provide each taxpayer with a simple 
annual statement explaining how his or her federal income tax dollars 
were spent.
  Similar to the annual Social Security statement, the Taxpayer Receipt 
will show the taxpayer's income tax liability, the amount of the 
liability spent on major spending categories, and the actual federal 
outlays for each category. It will also provide information on the 
state of the deficit and the 10 costliest tax breaks for that year. 
This simple annual Taxpayer Receipt will provide clear and consistent 
information to taxpayers that will serve to educate taxpayers on 
government spending--a subject full of misinformation.
  Thomas Jefferson once said, ``Information is the currency of 
democracy.'' To that end, providing Americans with information and 
transparency on government spending is essential to maintaining the 
strength and health of our democracy.

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