United States · Bill · HR
H.R. 4646 (111th)
Debt Free America Act
Introduced
23 February 2010
Last action
23 February 2010 · Introduced
Status
Referred to House Appropriations
Sponsors
Rep. Fattah, Chaka [D-PA-2]
Subjects
Taxation
Source updated
14 August 2025
Summary
Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument. Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. Provides for expedited consideration by Congress of Task Force recommendations. Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
23 February 2010
Introduced
Referred to House Ways and Means
Source: IntroReferral
23 February 2010
Introduced
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, Rules, and Appropriations, 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
23 February 2010
Introduced
Introduced in House
Source: IntroReferral
23 February 2010
Introduced
Introduced in House
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Introduced in House · 23 February 2010 · Download file
Documents
3 official files
Introduced in House (text)
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Introduced in House (text)
Introduced in House · EN · 23 February 2010
Introduced in House (PDF)
Introduced in House · EN · 23 February 2010
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Introduced in House
summary · EN · 23 February 2010
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Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
Related records
- related to ← Commission for Fiscal Sustainability Act of 2010
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/111th-congress/house-bill/4646
- Open data entity: https://api.congress.gov/v3/bill/111/hr/4646
- us · 111-hr-4646 · source updated 14 August 2025