HR 4496 · 114th Congress · Economics and Public Finance

FUNDS Act

Introduced 2016-02-08· Sponsored by Rep. Schweikert, David [R-AZ-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on the Judiciary.(2016-02-08)

Plain Language Summary

[AI summary unavailable — showing source text] Funding Unpaid National Debt with Settlements Act or the FUNDS Act This bill requires funds collected by the federal government through legal settlements, fines, and penalties (excluding penalties or interest collected by the Internal Revenue Service under the Internal Revenue Code) to be deposited in the general fund of the Treasury for deficit reduction. (Under current law, federal agencies are permitted to spend funds from certain settlements, fines, and penalties for specified purposes.)…

Summarized by Claude AI · Non-partisan · For informational purposes only