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Searching...- Bills
- H.R.2860
H.R.2860: Budget Surplus Dividend Act of 1997
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced Nov. 6, 1997
- Latest Major Action Nov. 18, 1997
Bill Sponsor
Bill Summary
Budget Surplus Dividend Act of 1997 - Amends the Internal Revenue Code to allocate credits to taxpayers for social security taxes, during any year in which there is a Federal budget surplus of more than $1 billion, so as to utilize 50 percent of such surplus. Requires that, during any such year, the remainder of such surplus shall be split and used to: (1) reduce the outstanding public debt; and (2) increase nondefense discretionary spending...
(Source: Library of Congress)
Bill Actions
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Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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Referred to House Ways and Means
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Referred to House Budget
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Referred to the Subcommittee on Social Security.
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| Nov. 6, 1997 |
Introduced in the House by Charles E. Schumer (D-N.Y.) |