American Debt Repayment Act

Summary

American Debt Repayment Act - Prohibits budgeted outlays from exceeding budgeted revenues, beginning with FY 2000. Requires, beginning with FY 2000, that actual revenues exceed actual outlays in order to provide for the reduction of the gross Federal debt. Requires the amount of reduction to be equal to the amount required to amortize the debt over the next 30 years in order to repay the entire debt by the end of FY 2029. Authorizes a congressional waiver of this Act when a declaration of war is in effect. Prohibits a bill to increase revenues from being deemed to pass the House of Representatives or the Senate unless approved by a majority roll call vote of both Houses. Directs the Congress to review actual revenues on a quarterly basis and adjust outlays to comply with this Act.

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Timeline

1. 4 March 1999

   Introduced

   Referred to the Committee on the Budget, and in addition to the Committee on Rules, 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.

   Source: IntroReferral

2. 4 March 1999

   Introduced

   Referred to the Committee on the Budget, and in addition to the Committee on Rules, 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.

   Source: IntroReferral

3. 4 March 1999

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 March 1999

   Introduced

   Introduced in House

   Source: IntroReferral

5. 17 June 1999

   Introduced

   Sponsor introductory remarks on measure. (CR E1299)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 4 March 1999 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 March 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 March 1999

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 4 March 1999

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Schaffer, Bob [R-CO-4] · R · Sponsor
• Rep. Nussle, Jim [R-IA-2] · R · Cosponsor
• Rep. Goode, Virgil H., Jr. [R-VA-5] · I · Cosponsor
• Rep. Norwood, Charles W. [R-GA-9] · R · Cosponsor
• · hsru00 · Standing
• · hsbu00 · Standing

Related records

No cross-record relationships stored yet.