Requires in each budget submitted to the Congress by the President an item requesting an appropriation equal to 1 percent of the aggregate face amount of the obligations (not including those held by the Secretary of the Treasury) outstanding on July 1 of the year of enactment of this Act, which item shall be used exclusively for the retirement of such public debt. (Amends 31 U.S.C. 757b)
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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