US HB4308 | 2009-2010 | 111th Congress

Status

Spectrum: Partisan Bill (Republican 22-0)
Status: Introduced on December 15 2009 - 25% progression, died in committee
Action: 2009-12-15 - Referred to House Budget
Pending: House Budget Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Deficit Reduction Check-Off Act - Amends the Internal Revenue Code to allow individual taxpayers to designate on their tax returns an amount (initially between $1 and $10, with annual increases of $1 for each taxable year after 2011) for reducing the federal deficit. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require a sequestration to reduce the federal deficit within 15 days after Congress adjourns to end a session by directing the Office of Management and Budget (OMB) to apply an across-the-board reduction in federal spending equal to 10 times the amount raised by the voluntary tax checkoff under this Act. Exempts from such spending reduction social security and railroad retirement benefits, Medicare benefits, judicial salaries, and veterans benefits.

Tracking Information

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Title

Deficit Reduction Check-Off Act

Sponsors


History

DateChamberAction
2009-12-15 Referred to House Budget
2009-12-15 Referred to House Ways and Means
2009-12-15 Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.

Subjects


US Congress State Sources


Bill Comments

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