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HR 634 112th Congress House Taxation Budget deficits and national debt Budget process Government trust funds Tax administration and collection, taxpayers

Debt Buy-Down Act of 2011

Introduced: February 10, 2011 See on congress.gov
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 10, 2011
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.
Feb 10, 2011
Introduced in House
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 Plain-English summary Congressional Research Service

Debt Buy-Down Act of 2011 - 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 February 10, 2011

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.

 Related & companion bills 1
  • S 574 Related bill Debt Buy-Down Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 7
All 7 Republican 2
R
Gosar, Paul A.
Arizona · Oct 4, 2011
Ross, Dennis
· Jul 6, 2011
McCotter, Thaddeus
· May 3, 2011
Bishop, Rob
· Feb 10, 2011
 R
Blackburn, Marsha
Tennessee · Feb 10, 2011
Chaffetz, Jason
· Feb 10, 2011
SENSENBRENNER, F.
· Feb 10, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 634: Debt Buy-Down Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-634/
MLA
"H.R. 634: Debt Buy-Down Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-634/.
Bluebook (legal)
H.R. 634, 112th Cong. (2026), https://openamerica.io/bill/112-HR-634/.
Markdown link
[H.R. 634: Debt Buy-Down Act of 2011](https://openamerica.io/bill/112-HR-634/)
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