National Tax Rebate Act of 1999 - Provides for a prorated individual tax rebate in any fiscal year in which the Federal revenue growth rate exceeds the personal income growth rate.
Amends the Congressional Budget Act of 1974 to provide for a point of order in the Senate and the House of Representatives against waiver of such tax rebate except in the case of a declaration of war. Permits waiver by an affirmative vote of two-thirds of the Members.
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 489 Introduced in Senate (IS)]
106th CONGRESS
1st Session
S. 489
To provide an automatic tax rebate when the Federal tax burden grows
faster than the personal income of working Americans, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 25, 1999
Mr. Grams introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To provide an automatic tax rebate when the Federal tax burden grows
faster than the personal income of working Americans, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``National Tax Rebate Act of 1999''.
SEC. 2. NATIONAL TAX REBATE OF EXCESS FEDERAL REVENUES.
(a) In General.--Subject to section 407 of the Congressional Budget
Act of 1974, with respect to any fiscal year in which the growth rate
of Federal revenues exceeds the growth rate of personal income, the
amount of Federal revenues representing such excess growth shall be
refunded pro rata by the Secretary of the Treasury among those Federal
individual income taxpayers reporting tax liability on Federal
individual income tax returns filed for the taxable year ending in such
fiscal year. Such refunds shall be made not later than 90 days after
the last day of such fiscal year.
(b) Definitions.--For purposes of this section--
(1) Growth rate of federal revenues.--
(A) In general.--The term ``growth rate of Federal
revenues'' means the most recent estimate of the
percentage increase in Federal revenues for any fiscal
year over the preceding fiscal year as calculated by
the Office of Management and Budget.
(B) Federal revenues.--The term ``Federal
revenues'' means all taxes, fees, licenses and charges
for services, and other payments deposited in the
Treasury of the United States.
(2) Growth rate of personal income.--The term ``growth rate
of personal income'' means the most recent estimate of the
percentage increase in total personal disposable income for any
fiscal year over the preceding fiscal year as calculated by the
Bureau of Economic Analysis of the Department of Commerce.
SEC. 3. LIMITATION ON WAIVER OF NATIONAL TAX REBATE.
(a) Point of Order Against Waiver of National Tax Rebate of Excess
Federal Revenues.--Title IV of the Congressional Budget Act of 1974 is
amended by--
(1) redesignating section 407 as section 408; and
(2) inserting after section 406 the following:
``point of order against waiver of national tax rebate of excess
federal revenues
``Sec. 407. (a) In General.--Except as otherwise provided in this
section and notwithstanding any other provision of law, it shall not be
in order in the Senate or House of Representatives to consider any
bill, resolution, or resolution of ratification (or amendment, motion,
or conference report on that bill or resolution) that would waiver the
national tax rebate of excess Federal revenues for any fiscal year as
determined under section 2 of the National Tax Rebate Act of 1999.
``(b) Exception for Declaration of War.--This section shall not
apply if a declaration of war by the Congress is in effect.
``(c) Timing of Points of Order in the Senate.--A point of order
under this section may not be raised against a bill, resolution,
amendment, motion, or conference report while an amendment or motion,
the adoption of which would remedy the violation of section (a), is
pending before the Senate.
``(d) Points of Order in the Senate Against Amendments Between the
Houses.--The provision of subsection (a) that establishes a point of
order against an amendment also establishes a point of order in the
Senate against an amendment between the Houses. If a point of order
under subsection (a) is raised in the Senate against an amendment
between the Houses and the point of order is sustained, the effect
shall be the same as if the Senate had disagreed to the amendment.
``(e) Effect of a Point of Order in the Senate.--In the Senate, if
a point of order under subsection (a) against a bill or resolution is
sustained, the Presiding Officer shall then recommit the bill or
resolution to the committee of appropriate jurisdiction for further
consideration.
``(f) Waiver.--A point of order under subsection (a) may be waived
or suspended in the Senate and the House of Representatives only by the
affirmative vote of two-thirds of the Members, duly chosen and
sworn.''.
(c) Clerical Amendment.--The table of contents of the Congressional
Budget and Impoundment Control Act of 1974 is amended in title IV by--
(1) redesignating section 407 as section 408; and
(2) inserting after the item for section 406 the following:
``Sec. 407. Point of order against waiver of national tax rebate of
excess Federal revenues.''.
(d) Effective Date.--The provisions of, and amendments made by,
this section shall apply to fiscal years ending after the date of
enactment of this Act.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S2031-2033)
Read twice and referred to the Committee on Finance.
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