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    A Bill: 112 Congress 1 S

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    Joe Wallin
    This bill proposes an amendment to the Internal Revenue Code that would allow taxpayers to make voluntary donations on their tax returns that would go towards paying down the national debt. It outlines that taxpayers could donate $1 or more in addition to their tax payment, which would be deposited in the U.S. Treasury's general fund. The donations would be treated as contributions to the United States and transferred to an account dedicated to reducing the public debt. If enacted, this amendment would apply to tax returns for tax years ending after December 31, 2010.

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    A Bill: 112 Congress 1 S

    Uploaded by

    Joe Wallin
    51 views3 pages
    This bill proposes an amendment to the Internal Revenue Code that would allow taxpayers to make voluntary donations on their tax returns that would go towards paying down the national debt. It outlines that taxpayers could donate $1 or more in addition to their tax payment, which would be deposited in the U.S. Treasury's general fund. The donations would be treated as contributions to the United States and transferred to an account dedicated to reducing the public debt. If enacted, this amendment would apply to tax returns for tax years ending after December 31, 2010.

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    HR3099

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    This bill proposes an amendment to the Internal Revenue Code that would allow taxpayers to make voluntary donations on their tax returns that would go towards paying down the national debt. It outlines that taxpayers could donate $1 or more in addition to their tax payment, which would be deposited in the U.S. Treasury's general fund. The donations would be treated as contributions to the United States and transferred to an account dedicated to reducing the public debt. If enacted, this amendment would apply to tax returns for tax years ending after December 31, 2010.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    51 views3 pages

    A Bill: 112 Congress 1 S

    Uploaded by

    Joe Wallin
    This bill proposes an amendment to the Internal Revenue Code that would allow taxpayers to make voluntary donations on their tax returns that would go towards paying down the national debt. It outlines that taxpayers could donate $1 or more in addition to their tax payment, which would be deposited in the U.S. Treasury's general fund. The donations would be treated as contributions to the United States and transferred to an account dedicated to reducing the public debt. If enacted, this amendment would apply to tax returns for tax years ending after December 31, 2010.

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    of 3

    I

    112TH CONGRESS 1ST SESSION

    H. R. 3099

    To amend the Internal Revenue Code of 1986 to provide for taxpayers making donations with their returns of income tax to the Federal Government to pay down the public debt.

    IN THE HOUSE OF REPRESENTATIVES


    OCTOBER 5, 2011 Mr. SCALISE (for himself, Mr. CAMPBELL, Mr. GINGREY of Georgia, Mr. HARRIS, Mr. STUTZMAN, Mrs. MYRICK, Mrs. BLACKBURN, Mr. FLORES, and Mr. BROOKS) introduced the following bill; which was referred to the Committee on Ways and Means

    A BILL
    To amend the Internal Revenue Code of 1986 to provide for taxpayers making donations with their returns of income tax to the Federal Government to pay down the public debt. 1 Be it enacted by the Senate and House of Representa-

    2 tives of the United States of America in Congress assembled, 3 4


    smartinez on DSK6TPTVN1PROD with BILLS

    SECTION 1. SHORT TITLE.

    This Act may be cited as the Buffett Rule Act of

    5 2011.

    VerDate Mar 15 2010

    01:30 Oct 06, 2011

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    2 1 2
    SEC. 2. DONATION TO PAY DOWN NATIONAL DEBT.

    (a) IN GENERAL.Subchapter A of chapter 61 of the

    3 Internal Revenue Code of 1986 is amended by adding at 4 the end the following new part: 5 6
    PART IXDONATIONS TO PAY DOWN NATIONAL DEBT
    Sec. 6097. Donation to pay down national debt.

    7 8

    SEC. 6097. DONATION TO PAY DOWN NATIONAL DEBT.

    (a) GENERAL RULE.Every taxpayer who makes a

    9 return of the tax imposed by subtitle A for any taxable 10 year may donate an amount (not less than $1), in addition 11 to any payment of tax for such taxable year, which shall 12 be deposited in the general fund of the Treasury. 13 (b) MANNER AND TIME OF DESIGNATION.Any do-

    14 nation under subsection (a) for any taxable year 15 16 17 18 19 20 21 22


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    (1) shall be made at the time of filing the return of the tax imposed by subtitle A for such taxable year and in such manner as the Secretary may by regulation prescribe, except that (A) the designation for such donation shall be either on the first page of the return or on the page bearing the taxpayers signature, and (B) the designation shall be by a box added to the return, and the text beside the box shall provide:
    HR 3099 IH
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    23 24 25
    VerDate Mar 15 2010 01:30 Oct 06, 2011

    3
    By checking here, I signify that in addition to my tax liability, I would like to donate the included payment to be used exclusively for the purpose of paying down the national debt., and

    1 2 3

    (2) shall be accompanied by a payment of the amount so designated. (c) TREATMENT OF AMOUNTS DONATED.For pur-

    4 poses of this title, the amount donated by any taxpayer 5 under subsection (a) shall be treated as a contribution 6 made by such taxpayer to the United States on the last 7 date prescribed for filing the return of tax imposed by sub8 title A (determined without regard to extensions) or, if 9 later, the date the return is filed. 10 (d) TRANSFERS
    TO

    ACCOUNT TO REDUCE PUBLIC

    11 DEBT.The Secretary shall, from time to time, transfer 12 to the special account established by section 3113(d) of 13 title 31, United States Code, amounts equal to the 14 amounts donated under this section.. 15 (b) CLERICAL AMENDMENT.The table of parts for

    16 subchapter A of such chapter is amended by adding at 17 the end the following new item:
    PART IX. DONATIONS TO PAY DOWN NATIONAL DEBT..

    18

    (c) EFFECTIVE DATE.The amendments made by

    19 this section shall apply to returns for taxable years ending 20 after December 31, 2010.
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    HR 3099 IH
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