Debt Buy-Down Act

referredUnited States· United States Congress· EN

Introduced

16 June 2010

Last action

16 June 2010 · Introduced

Status

Read twice and referred to the Committee on Finance.

Summary

Debt Buy-Down Act - Amends the Internal Revenue Code to allow individual taxpayers to designate up to 10% of their adjusted income tax liability for the reduction of the public debt. Establishes in the Treasury the Public Debt Reduction Trust Fund to hold tax revenues generated by this Act for the reduction of the public debt. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to require a sequestration of federal spending equivalent to the estimated aggregate amount designated by taxpayers under this Act to reduce the public debt. Prohibits any reduction in social security retirement benefits, veterans benefits, or interest payments on federal debt as a result of any such sequestration.

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

Timeline

16 June 2010
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
16 June 2010
Introduced
Introduced in Senate
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 16 June 2010 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 16 June 2010
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Introduced in Senate (PDF)
Introduced in Senate · EN · 16 June 2010
View Download Open at official source
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Introduced in Senate
summary · EN · 16 June 2010
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → Debt Buy-Down Act

Sources

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

Official source: https://www.congress.gov/bill/111th-congress/senate-bill/3496
Open data entity: https://api.congress.gov/v3/bill/111/s/3496
us · 111-s-3496 · source updated 5 December 2025