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HR 1956 113th Congress House

War on Debt Act of 2013

Official title: To amend title 31, United States Code, to provide for the issuance of War on Debt Bonds.

Introduced: May 13, 2013 See on congress.gov
Economics and Public Finance Budget deficits and national debtIncome tax exclusionInterest, dividends, interest ratesSecuritiesU.S. and foreign investments
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) 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
May 13, 2013
Referred to the House Committee on Ways and Means.
May 13, 2013
Introduced in House
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 Latest action May 13, 2013

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

War on Debt Act of 2013 - Requires the Secretary of the Treasury to establish and administer a new series of U.S. savings bonds to be known as "War on Debt Bonds," to be used first solely to reduce the amount of foreign-held public debt, and then to reduce other public debt.

Sets the maturity and redemption date of a War on Debt Bond at 50 years from the date of issue. Requires certain annual principal and interest payments, which shall not be includible in gross income under the Internal Revenue Code.

Allows redemption of such a Bond before 50 years if during any fiscal year during which it is outstanding: (1) the federal budget deficit exceeds 3% of gross domestic product (GDP), or (2) the public debt exceeds 10% of GDP.

Limits the holding of a War on Debt Bond to: (1) U.S. citizens or residents; (2) domestic partnerships, or domestic corporations (not more than 1% of the ownership interest of which is held, directly or indirectly, by a person who is not a U.S. person); or (3) estates or trusts which are U.S. persons, unless there is a trust beneficiary who is not a U.S. person.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 1956: War on Debt Act of 2013. 113th Congress. Open America. https://openamerica.io/bill/113-HR-1956/
MLA
"H.R. 1956: War on Debt Act of 2013." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-1956/.
Bluebook (legal)
H.R. 1956, 113th Cong. (2026), https://openamerica.io/bill/113-HR-1956/.
Markdown link
[H.R. 1956: War on Debt Act of 2013](https://openamerica.io/bill/113-HR-1956/)
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