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H.R. 5490 (116th): To amend section 1105(a) of title 31, United States Code, to require that annual budget submissions of the President to Congress provide an estimate of the cost per taxpayer of the deficit and of the public debt.


The text of the bill below is as of Dec 19, 2019 (Introduced). The bill was not enacted into law.


I

116th CONGRESS

1st Session

H. R. 5490

IN THE HOUSE OF REPRESENTATIVES

December 19, 2019

introduced the following bill; which was referred to the Committee on the Budget

A BILL

To amend section 1105(a) of title 31, United States Code, to require that annual budget submissions of the President to Congress provide an estimate of the cost per taxpayer of the deficit and of the public debt.

1.

Requirement in budget submission with respect to the cost per taxpayer of the deficit

Section 1105(a) of title 31, United States Code, is amended by adding at the end the following:

(40)
(A)

in the case of a fiscal year in which the budget is projected to result in a deficit, an estimate of the pro rata cost of such deficit for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year; and

(B)

in the case of any fiscal year, an estimate of the pro rata cost of the public debt for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year.

.