PoliticalRepoPoliticalRepo

United States · Bill · S

S. 1608 (105th)

American Debt Repayment Act

referredUnited States· United States Congress· EN

Introduced

4 February 1998

Last action

4 February 1998 · Introduced

Status

Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, as modified by the order of April 11, 1986, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged.

Sponsors

Sen. Allard, Wayne [R-CO], Sen. Enzi, Michael B. [R-WY], Rep. Inhofe, James M. [R-OK-1], Sen. Ashcroft, John [R-MO]

Subjects

Discovery layer

Source updated

21 August 2025

Official sourceDownload fileView documentsShare

Summary

American Debt Repayment Act - Prohibits budgeted outlays from exceeding budgeted revenues, beginning with FY 1999. Requires, beginning with FY 1999, 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.

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

Timeline

  1. 4 February 1998

    Introduced

    Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, as modified by the order of April 11, 1986, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged.

    Source: IntroReferral

  2. 4 February 1998

    Introduced

    Sponsor introductory remarks on measure. (CR S393-394)

    Source: IntroReferral

  3. 4 February 1998

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Sponsors

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.