National Debt Repayment Act of 1997

Summary

National Debt Repayment Act of 1997 - Amends the Congressional Budget Act of 1974 to require concurrent resolutions on the budget, beginning with the one for the first fiscal year after there is a surplus, to set forth totals of budget outlays and Federal revenues for the budget year and each fiscal year concerned such that the annual rate of change in outlays is at least one percentage point lower than the corresponding change in revenues for each such year. Permits the Congress to waive such requirement for fiscal years in which a declaration of war is in effect or the United States is engaged in military conflict posing a serious threat to national security or for the budget year and the next fiscal year if real economic growth has been negative for two consecutive calendar quarters. Amends Federal law to require the Secretary of the Treasury to use any budget surplus for a fiscal year, with one-third allocated to each of the following, to: (1) exchange special issue nonmarketable Government bonds in the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund with marketable Government securities; (2) invest in marketable Government securities to be held in a Tax Cut Offset Trust Fund to offset future revenue reductions; and (3) exchange special issue nonmarketable Government securities in the Highway Trust Fund and the Hazardous Substance Superfund with marketable ones. Requires the surplus to be allocated, in specified increments, to repay the public debt when Government trust funds, including those described above, no longer hold nonmarketable securities. Prohibits receipts and disbursements of Government trust funds, in an amount up to the value of marketable Government securities contained in any such fund, from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of the Federal or congressional budgets or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts such receipts and disbursements from any statutory general budget limitation on expenditures and net lending. Directs the Secretary, upon expenditure from a trust fund of any money not so counted, to sell a corresponding amount of marketable Government securities from the fund and reduce its balance accordingly.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 17 July 1997

   Introduced

   Referred to House Budget

   Source: IntroReferral

2. 17 July 1997

   Introduced

   Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Ways and Means, 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. 17 July 1997

   Introduced

   Sponsor introductory remarks on measure. (CR H5478-5485)

   Source: IntroReferral

4. 17 July 1997

   Introduced

   Introduced in House

   Source: IntroReferral

5. 17 July 1997

   Introduced

   Introduced in House

   Source: IntroReferral

6. 24 July 1997

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

7. 26 February 1998

   Introduced

   Sponsor introductory remarks on measure. (CR H666-670)

   Source: IntroReferral

8. 18 March 1998

   Introduced

   Sponsor introductory remarks on measure. (CR H1289-1291)

   Source: IntroReferral

9. 16 September 1998

   Introduced

   Sponsor introductory remarks on measure. (CR H7898)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 July 1997 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 July 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 July 1997

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 July 1997

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  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. Neumann, Mark W. [R-WI-1] · R · Sponsor
• Rep. Gingrich, Newt [R-GA-6] · R · Sponsor
• Rep. Solomon, Gerald B. H. [R-NY-22] · R · Sponsor
• Rep. Livingston, Bob [R-LA-1] · R · Sponsor
• Rep. Kasich, John R. [R-OH-12] · R · Sponsor
• Rep. Paxon, Bill [R-NY-27] · R · Sponsor
• Rep. Ballenger, Cass [R-NC-10] · R · Sponsor
• Rep. Bartlett, Roscoe G. [R-MD-6] · R · Sponsor
• Rep. Barton, Joe [R-TX-6] · R · Sponsor
• Rep. Bass, Charles F. [R-NH-2] · R · Sponsor
• Sen. Blunt, Roy [R-MO] · R · Sponsor
• Rep. Bono, Sonny [R-CA-44] · R · Sponsor
• Rep. Bryant, Ed [R-TN-7] · R · Sponsor
• Sen. Burr, Richard [R-NC] · R · Sponsor
• Rep. Burton, Dan [R-IN-5] · R · Sponsor
• Rep. Campbell, Tom [R-CA-15] · R · Sponsor
• Rep. Chabot, Steve [R-OH-1] · R · Sponsor
• Rep. Chenoweth-Hage, Helen [R-ID-1] · R · Sponsor
• Rep. Christensen, Jon [R-NE-2] · R · Sponsor
• Sen. Coburn, Tom [R-OK] · R · Sponsor
• Rep. Condit, Gary A. [D-CA-18] · D · Sponsor
• Rep. Cooksey, John [R-LA-5] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Rep. Cubin, Barbara [R-WY-At Large] · R · Sponsor
• Rep. Dickey, Jay [R-AR-4] · R · Sponsor
• Rep. Doolittle, John T. [R-CA-4] · R · Sponsor
• Rep. Dreier, David [R-CA-26] · R · Sponsor
• Rep. Ehrlich, Robert L., Jr. [R-MD-2] · R · Sponsor
• Rep. English, Phil [R-PA-3] · R · Sponsor
• Sen. Ensign, John [R-NV] · R · Sponsor
• Rep. Ewing, Thomas W. [R-IL-15] · R · Sponsor
• Rep. Foley, Mark [R-FL-16] · R · Sponsor
• Rep. Forbes, Michael P. [D-NY-1] · R · Sponsor
• Rep. Fox, Jon D. [R-PA-13] · R · Sponsor
• Rep. Franks, Bob [R-NJ-7] · R · Sponsor
• Rep. Goode, Virgil H., Jr. [R-VA-5] · D · Sponsor
• Sen. Graham, Lindsey [R-SC] · R · Sponsor
• Rep. Granger, Kay [R-TX-12] · R · Sponsor
• Rep. Gutknecht, Gil [R-MN-1] · R · Sponsor
• Rep. Hastings, Doc [R-WA-4] · R · Sponsor
• Rep. Hayworth, J. D. [R-AZ-5] · R · Sponsor
• Rep. Herger, Wally [R-CA-2] · R · Sponsor
• Rep. Hill, Rick [R-MT-At Large] · R · Sponsor
• Rep. Hobson, David L. [R-OH-7] · R · Sponsor
• Rep. Hoekstra, Peter [R-MI-2] · R · Sponsor
• Rep. Horn, Stephen [R-CA-38] · R · Sponsor
• Rep. Hostettler, John N. [R-IN-8] · R · Sponsor
• Rep. Hunter, Duncan [R-CA-52] · R · Sponsor

Showing 48 of 113 sponsors and actors.

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