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HR 5536 111th Congress House Taxation Budget deficits and national debt Budget process Government trust funds Tax administration and collection, taxpayers

Debt Buy-Down Act

Introduced: July 15, 2010 See on congress.gov
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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
Jun 16, 2010
Referred to House Budget
Jun 16, 2010
Referred to House Ways and Means
Jun 16, 2010
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.
Jun 16, 2010
Introduced in House
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 Plain-English summary Congressional Research Service

Debt Buy-Down Act - Amends the Internal Revenue Code to allow individual taxpayers to designate up to 10% of their adjusted income tax liability for the reduction of the public debt.

Establishes in the Treasury the Public Debt Reduction Trust Fund to hold tax revenues generated by this Act for the reduction of the public debt.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to require a sequestration of federal spending equivalent to the estimated aggregate amount designated by taxpayers under this Act to reduce the public debt. Prohibits any reduction in social security retirement benefits, veterans benefits, or interest payments on federal debt as a result of any such sequestration.

What's happening now June 16, 2010

Referred to House Budget

 Related & companion bills 1
  • S 3496 Identical bill Debt Buy-Down Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 6
All 6 Republican 4
Chaffetz, Jason
· Jul 15, 2010
INGLIS, BOB
· Jul 15, 2010
 R
Blackburn, Marsha
Tennessee · Jul 1, 2010
 R
Issa, Darrell
California · Jul 1, 2010
 R
Latta, Robert E.
Ohio · Jul 1, 2010
 R
Wilson, Joe
South Carolina · Jul 1, 2010
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5536: Debt Buy-Down Act. 111th Congress. Open America. https://openamerica.io/bill/111-HR-5536/
MLA
"H.R. 5536: Debt Buy-Down Act." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-5536/.
Bluebook (legal)
H.R. 5536, 111th Cong. (2026), https://openamerica.io/bill/111-HR-5536/.
Markdown link
[H.R. 5536: Debt Buy-Down Act](https://openamerica.io/bill/111-HR-5536/)
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