IB
Union Calendar No. 518
106TH CONGRESS
2D SESSION
H. R. 5173
[Report No. 106–862, Part I]
To provide for reconciliation pursuant to sections 103(b)(2) and 213(b)(2)(C)
of the concurrent resolution on the budget for fiscal year 2001 to reduce
the public debt and to decrease the statutory limit on the public debt.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 14, 2000
Mr. FLETCHER (for himself, Mr. HERGER, Mr. ARCHER, Mr. SHAW, Mr.
NUSSLE, Mr. CRANE, Mr. GARY MILLER of California, Mr. LEWIS of
Kentucky, Mr. KUYKENDALL, Mr. TANCREDO, Mr. CAMP, Ms. DUNN,
Mr. HAYWORTH, and Mr. ENGLISH) introduced the following bill; which
was referred to the Committee on Ways and Means, and in addition to
the Committee on the Budget and the Committee on Rules, for a period
to be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee
concerned
SEPTEMBER 18, 2000
Reported from the Committee on Ways and Means with an amendment
[Strike out all after the enacting clause and insert the part printed in italic]
SEPTEMBER 18, 2000
Additional sponsors: Mr. THUNE, Mr. ROYCE, Mr. GALLEGLY, and Mr.
TALENT
SEPTEMBER 18, 2000
Referral to the Committees on Budget and Rules extended for a period ending
not later than September 18, 2000
SEPTEMBER 18, 2000
The Committees on Budget and Rules discharged; committed to the Whole
House on the State of the Union and ordered to be printed
[For text of introduced bill, see copy of bill as introduced on September 14, 2000]
A BILL
To provide for reconciliation pursuant to sections 103(b)(2)
and 213(b)(2)(C) of the concurrent resolution on the
budget for fiscal year 2001 to reduce the public debt
and to decrease the statutory limit on the public debt.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Debt Relief Lock-Box
Reconciliation Act for Fiscal Year 2001’’.
SEC. 2. FINDINGS AND PURPOSE.
(a) FINDINGS.—The Congress finds that—
(1) fiscal discipline, resulting from the Balanced
Budget Act of 1997, and strong economic growth have
ended decades of deficit spending and have produced
budget surpluses without using the social security sur-
plus;
(2) fiscal pressures will mount in the future as
the aging of the population increases budget obliga-
tions;
(3) until Congress and the President agree to leg-
islation that saves social security and medicare, the
social security and medicare surpluses should be used
to reduce the debt held by the public;
(4) until Congress and the President agree on
significant tax reductions, amounts dedicated for that
purpose shall be used to reduce the debt held by the
public;
(5) strengthening the Government’s fiscal posi-
tion through public debt reduction increases national
savings, promotes economic growth, reduces interest
costs, and is a constructive way to prepare for the
Government’s future budget obligations; and
(6) it is fiscally responsible and in the long-term
national economic interest to use a portion of the
nonsocial security and nonmedicare surpluses to re-
duce the debt held by the public.
(b) PURPOSE.—It is the purpose of this Act to—
(1) reduce the debt held by the public by
$240,000,000,000 in fiscal year 2001 with the goal of
eliminating this debt by 2012;
(2) decrease the statutory limit on the public
debt; and
(3) ensure that the social security and hospital
insurance trust funds shall not be used for other pur-
poses.