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103D CONGRESS

1ST SESSION H. R. 3183

To assure that tax increases contained in the Omnibus Budget Reconciliation

Act of 1993 are used solely for deficit reduction.

IN THE HOUSE OF REPRESENTATIVES

SEPTEMBER 29, 1993

Mr. PORTER introduced the following bill; which was referred to the

Committee on Ways and Means

A BILL

To assure that tax increases contained in the Omnibus Budget Reconciliation Act of 1993 are used solely for deficit

reduction.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. TAX INCREASES TERMINATED IF PROJECTED

4 ANNUAL DEFICIT SHRINKS TOO SLOWLY.

5 (a) DETERMINATION OF SIZE OF FEDERAL BUDGET

6 DEFICIT.—On or before January 31 of each calendar year

7 through calendar year 1999, the Director of the Office of

8 Management and Budget shall—

9 (1) determine the size of the Federal budget

10 deficit for each of the 2 most recently completed fis-
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1 cal years and the difference in the size of those defi2 cits; and

3 (2) notify, in writing, the Secretary of the

4 Treasury, the Speaker and the minority party leader

5 of the House of Representatives, and the majority

6 party leader and minority party leader of the Senate

7 of the information described in paragraph (1).

8 (b) DETERMINATION OF CERTAIN REVENUES AND

9 USER FEES.—On or before January 31 of each calendar

10 year through calendar year 1999, the Secretary of the

11 Treasury shall—

12 (1) determine the net aggregate amount of Fed13 eral receipts attributable to amendments to the In14 ternal Revenue Code of 1986, new user fees, and

15 any increases in existing user fees contained in the

16 Omnibus Budget Reconciliation Act of 1993 or any

17 amendment made by it; and

18 (2) notify, in writing, the Speaker and the mi19 nority party leader of the House of Representatives,

20 and the majority party leader and minority party

21 leader of the Senate of the information described in

22 paragraph (1).

23 (c) RELATIONSHIP BETWEEN CHANGE IN THE DEFI24 CIT AND REVENUE INCREASES.—(1) The Secretary of the
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1 Treasury shall determine, based upon the information de2 scribed in paragraph (1) of subsections (a) and (b), if—

3 (A) the Federal annual budget deficit shrank by

4 an amount nominally less than the amount of re5 ceipts described in subsection (b)(1) for the most re6 cently completed fiscal year (and to what extent);

7 (B) the Federal annual budget deficit shrank

8 by an amount nominally equal to or greater than the

9 amount of receipts described in subsection (b)(1) for

10 the most recently completed fiscal year (and to what

11 extent); or

12 (C) the annual budget deficit increased (and to

13 what extent).

14 (2) On or before February 14 of each calendar year

15 through calendar year 1999, the Secretary of the Treasury

16 shall notify, in writing, the Speaker and the minority party

17 leader of the House of Representatives, and the majority

18 party leader and minority party leader of the Senate of

19 the determination made under paragraph (1).

20 (d) TAX CHANGES TERMINATE IF SPENDING IN21 CREASE NOT RESCINDED.—If, the Secretary of the Treas22 ury makes a determination described under subsection

23 (c)(1)(A) or (C) for the most recently completed fiscal

24 year, then—
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1 (1) the Internal Revenue Code of 1986 shall be

2 applied without regard to any legislation referred to

3 in subsection (b)(1)—

4 (A) in the case of excise taxes, with respect

5 to periods after the close of such 45-day period;

6 and

7 (B) in the case of income taxes, with re8 spect to taxable years ending on or after the

9 close of such 45-day period; and

10 (2) in the case of user fees, any provision of

11 Federal law imposing any user fee shall be applied

12 without regard to any legislation referred to in sub13 section (b)(1) with respect to periods after the close

14 of such 45-day period.

15 (e) 45-DAY PERIOD.—For purposes of this section,

16 the ‘‘45-day period’’ shall be the 45-calendar day period

17 commencing on the day after the date upon which the Sec18 retary of the Treasury makes the notifications required

19 by subsection (c)(2).

20 (f) SUSPENSION.—The preceding provisions of this

21 section shall be suspended upon a declaration of war by

22 the Congress.

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