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HR 3998 104th Congress House Economics and Public Finance Armed Forces and National Security Balanced budgets Budget deficits Checkoff Deficit reduction Disabled Federal budgets Gifts Government spending reductions Income tax Labor and Employment Military pensions Old age, survivors and disability insurance Public debt Social Welfare Tax deductions Tax exclusion Tax refunds Tax returns

Citizen Debt Reduction Contribution Act

Introduced: August 2, 1996 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 29, 1996
Executive Comment Requested from DOD.
Aug 29, 1996
Referred to the Subcommittee on Military Personnel.
Aug 2, 1996
Referred to the Committee on Ways and Means, and in addition to the Committees on National Security, Veterans' Affairs, and 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.
Aug 2, 1996
Introduced in House
 Plain-English summary Congressional Research Service

Citizen Debt Reduction Contribution Act - Provides that individuals otherwise entitled to receive payments from the Federal Government may specify that a portion of those payments be used for deficit reduction.

Expresses the sense of the Congress that any budget savings resulting from this Act should be used solely to reduce net Government spending.

Amends the Internal Revenue Code to allow taxpayers to designate a specified portion (not less than $1) of their income tax overpayments to be used to reduce U.S. public debt.

Amends the Social Security Act to direct the Commissioner of Social Security to establish a program to allow recipient donation, by way of designation for transfer to the general fund of the Treasury, of certain social security benefit payments to reduce the public debt.

Amends Federal law relating to military personnel to provide for a program of allowing members or former members of the armed forces to donate designated portions of their military retirement benefits to reduce the public debt.

Amends Federal law relating to veterans to provide for a program of allowing veterans to donate designated portions of their veterans' disability compensation to reduce the public debt.

Provides that savings resulting from the enactment of this Act shall not be considered for purposes of estimates made for this Act under specified provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings).

What's happening now August 29, 1996

Referred to the Subcommittee on Military Personnel.

 Committees of jurisdiction 5
 Cosponsors 1
All 1 Republican 1