Taxpayer Contributions for Public Debt Reduction Act of 1985

[AI summary unavailable — showing source text] Taxpayer Contributions for Public Debt Reduction Act of 1985 - Amends the Internal Revenue Code to allow taxpayers to designate on their tax returns that income tax refunds shall be treated as contributions and used to reduce the public debt and that any cash contribution which the taxpayer includes with such return shall be used to reduce the public debt. Requires the transfer of amounts designated for this purpose to a special account to be used to reduce the public debt.…