Debt Per Taxpayer Information Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8372 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8372

 To require the annual budget submission of the President to Congress 
and the annual concurrent resolution on the budget provide an estimate 
  of certain additional information per each taxpayer, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 14, 2024

Mr. Arrington (for himself, Mr. Estes, and Mr. Grothman) introduced the 
following bill; which was referred to the Committee on the Budget, and 
   in addition to the Committees on Ways and Means, and Rules, for a 
 period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                                 A BILL


 
 To require the annual budget submission of the President to Congress 
and the annual concurrent resolution on the budget provide an estimate 
  of certain additional information per each taxpayer, 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 ``Debt Per Taxpayer Information Act''.

SEC. 2. REQUIREMENT IN PRESIDENT'S BUDGET SUBMISSION AND CONCURRENT 
              BUDGET RESOLUTION.

    (a) President's Budget Submission.--Section 1105(a) of title 31, 
United States Code, is amended by adding at the end the following:
            ``(40) for the prior fiscal year, current fiscal year, the 
        fiscal year for which the budget is submitted, and ensuing 
        fiscal years, an estimate of the pro rata amount for each 
        taxpayer who will file individual income tax returns for 
        taxable years ending during such fiscal year of the debt held 
        by the public and gross Federal debt.''.
    (b) Budget Resolution.--Section 301(a) of the Congressional Budget 
and Impoundment Control Act of 1974 (2 U.S.C. 632(a)) is amended by 
adding at the end the following: ``In addition to the requirements in 
paragraphs (1) through (7), each concurrent resolution on the budget 
shall include, for the prior fiscal year, current fiscal year, the 
fiscal year beginning on October 1 of the current calendar year, and 
ensuing fiscal years, an estimate of the pro rata amount of the gross 
Federal debt for each taxpayer who will file individual income tax 
returns for taxable years ending during any such fiscal year.''

SEC. 3. FEDERAL BUDGET INFORMATION INCLUDED WITH EMPLOYEE'S FORM W-2.

    (a) In General.--Section 6051 of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(h) Federal Budget Information.--At the bottom of the employee's 
copy of the form prescribed for furnishing the statements required 
pursuant to this section, the Secretary shall include, with respect to 
the most recently completed fiscal year, the following information:
            ``(1) Total Federal Government revenue, outlays, and 
        deficit.
            ``(2) The total gross Federal debt.
            ``(3) An estimate of the pro rata amount of the gross 
        Federal debt for taxpayers who will file individual income tax 
        returns for taxable years ending during such fiscal year.
Such information shall be presented in a manner calculated to be 
understood by the average individual and shall be preceded by a 
conspicuous statement clarifying that dollar amounts are for 
informational purposes only and do not represent any amount owed.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to statements required to be furnished with respect to remuneration 
paid after December 31, 2023.
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