IV
106TH CONGRESS
2D SESSION
H. RES. 490
To ensure that the fiscal year 2000 on-budget surplus is used to reduce
publicly-held debt and provide tax relief to American taxpayers.
IN THE HOUSE OF REPRESENTATIVES
MAY 4, 2000
Mr. WELDON of Florida (for himself, Mr. ARMEY, Mr. DELAY, Mr. LARGENT,
Mr. COBURN, and Mr. STEARNS) submitted the following resolution;
which was referred to the Committee on Ways and Means
RESOLUTION
To ensure that the fiscal year 2000 on-budget surplus is
used to reduce publicly-held debt and provide tax relief
to American taxpayers.
Resolved,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Save Our Surplus for
Debt Reduction and Tax Rebate Resolution of 2000’’.
SEC. 2. FINDINGS AND PURPOSE.
(a) FINDINGS.—Congress finds that—
(1) the Office of Management and Budget esti-
mated in the President’s fiscal year 2001 budget
submission that the Government will have a
•HRES 490 IH
$19,000,000,000 nonsocial security surplus (on-
budget surplus) in fiscal year 2000;
(2) it is expected that in the summer of 2000,
the Office of Management and Budget will estimate
an even larger budget surplus for fiscal year 2000;
(3) Government spending in fiscal year 2000
will increase faster than the rate of inflation for a
total of over $1,750,000,000,000;
(4) the public debt has been paid down by
$51,000,000,000 
in 
fiscal 
year 
1998,
$88,000,000,000 in fiscal year 1999, and current es-
timates are that $163,000,000,000 will be paid
down in fiscal year 2000;
(5) the public debt has declined significantly as
a percentage of gross domestic product since 1995,
by 19 percent, declining from 49.2 percent of gross
domestic product to 39.9 percent of gross domestic
product;
(6) Government revenues in fiscal year 2000
will be 20.3 percent of the gross domestic produc-
tion, which is the highest level since World War II;
(7) according to President Clinton’s fiscal year
2001 budget, individual income taxes have doubled
from 1993 to the present;
•HRES 490 IH
(8) the tax burden on Americans today is at an
all-time post World War II high;
(9) for the average household, taxes now exceed
the costs of food, clothing, shelter, and transpor-
tation combined; and
(10) the on-budget surplus represents a tax
overpayment by the American people and belongs in
the hands of those who have been overcharged.
(b) PURPOSE.—It is the purpose of this Act to ensure
that the fiscal year 2000 on-budget surplus is used to re-
duce publicly-held debt and provide a tax rebate to Ameri-
cans who have been overcharged.
SEC. 3. USE OF FY2000 ON-BUDGET SURPLUS.
It is the sense of the House of Representatives that—
(1) if the Office of Management and Budget, in
its supplemental summary of the budget for fiscal
year 2001 pursuant to section 1106(a) of title 31,
United States Code, projects an increase in the on-
budget surplus from the projection for that surplus
set forth in the President’s budget submission for
such fiscal year that—
(A) is $16,000,000,000 or less for fiscal
year 2000, then such amount should be dedi-
cated to reducing publicly-held debt;
•HRES 490 IH
(B) exceeds $16,000,000,000 for fiscal
year 2000, then $16,000,000,000 should be re-
turned as a tax rebate distributed equally to
every American household that paid Federal in-
come taxes for taxable year 1998 and any in-
crease in excess of that amount should be dedi-
cated to reducing publicly-held debt;
(2) any individual receiving a tax rebate under
this proposal who desires to do so may return that
check in order to reduce publicly-held debt; and
(3) the Secretary of the Treasury should clearly
indicate to taxpayers receiving a rebate that they
may return the rebate check if they so desire and
that every penny will be dedicate to reducing pub-
licly-held debt.
Æ