S 125 · 99th Congress · Economics and Public Finance

A bill to amend the Internal Revenue Code of 1954 to require that the revenues of any new taxes be used to reduce the Federal deficit, and for other purposes.

Introduced 1985-01-03· Sponsored by Sen. Pryor, David H. [D-AR]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB, Treasury Department.(1985-01-07)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to establish in the Treasury a Deficit Reduction Trust Fund. Appropriates to such trust fund any revenues received from any tax imposed after January 1, 1985. Sets forth requirements for the expenditure of funds from such trust fund.…

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