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HR 4379 105th Congress House

Budget Surplus Dividend Act of 1998

Official title: To amend the Internal Revenue Code of 1986 to use 33 1/3 percent of any Federal budget surplus in the general fund to rebate taxpayers based on their payroll t… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to use 33 1/3 percent of any Federal budget surplus in the general fund to rebate taxpayers based on their payroll taxes and to provide that the remainder of the surplus shall be used to increase discretionary nondefense spending and to reduce the outstanding public debt.

Introduced: July 31, 1998 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Taxation Budget surplusesEconomics and Public FinanceFederal budgetsGovernment spending
More subjectsShow fewer subjects
Government trust fundsOld age, survivors and disability insurancePublic debtSocial WelfareSocial security financeSocial security taxesTax credits
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 1998
Referred to House Budget
Jul 31, 1998
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.
Jul 31, 1998
Referred to House Ways and Means
Jul 31, 1998
Introduced in House
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 Latest action July 31, 1998

Referred to House Budget

 Plain-English summary Congressional Research Service

Budget Surplus Dividend Act of 1998 - Amends the Internal Revenue Code to allow, upon a specified determination of budgetary surplus, a credit equal to a certain percentage of a taxpayer's annual social security taxes. Provides for the use of budgetary surplus to reduce public debt and increase nondefense discretionary spending.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 4379: Budget Surplus Dividend Act of 1998. 105th Congress. Open America. https://openamerica.io/bill/105-HR-4379/
MLA
"H.R. 4379: Budget Surplus Dividend Act of 1998." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-4379/.
Bluebook (legal)
H.R. 4379, 105th Cong. (2026), https://openamerica.io/bill/105-HR-4379/.
Markdown link
[H.R. 4379: Budget Surplus Dividend Act of 1998](https://openamerica.io/bill/105-HR-4379/)
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