Debt Reduction and Control Act of 2000

[AI summary unavailable — showing source text] Debt Reduction and Control Act of 2000 - Amends Federal law to require the Secretary of the Treasury, during FY 2002 and thereafter, to retire publicly-held obligations issued under provisions regarding the public debt as set forth in this Act. Requires such obligations to be retired by an amount no less than $400 billion minus the estimated net interest on payments required to be paid during the fiscal year by the Government on debt obligations. Directs the Secretary to ensure that the retirement of such debt produces a net reduction in the face amount of obligations issued or guaranteed by the amount of obligations retired. Provides for, in FY 2003 and thereafter, increases in the amount of obligations retired by the percent by which the Consumer Price Index for the base quarter of the fiscal year exceeds the base index. Provides for reductions in the net reduction in the debt otherwise required by the amount of any shortfall if the Secretary determines, by the close of a fiscal year, that the net reduction in debt cannot be met because: (1) appropriations designated as emergency requirements or any provision of direct spending or receipts legislation so designated under the Bala…