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Bill106th CongressFiled Jun 8, 2000Economics and Public Finance
H.R. 4601

Debt Reduction Reconciliation Act of 2000

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Jun 20, 2000)

Debt Reduction Reconciliation Act of 2000 - Establishes the Public Debt Reduction Payment Account in the Treasury. Requires the Secretary of the Treasury to use amounts in the Account to pay at maturity, or redeem or buy before maturity, any Government obligation held by the public and included in the public debt. Provides that any obligation which is paid, redeemed, or bought with amounts from the Account shall be canceled and retired and prohibits its reissuance.

Provides that if the Congressional Budget Office estimates an on-budget surplus for FY 2000 in a report submitted to the congressional budget committees pursuant to the Congressional Budget Act of 1974 that exceeds the amount of the surplus for such fiscal year set forth in the concurrent resolution on the budget for FY 2001 (H. Con. Res. 290, 106th Congress), then an amount equal to that excess is appropriated into the Account for FY 2000. Prohibits such appropriation from being considered as direct spending for purposes of pay-as-you-go provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Reduces the public debt limit by the amount appropriated into the Account.

Bars Account receipts and disbursements from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of : (1) the Federal budget as submitted by the President; (2) the congressional budget; or (3) the Gramm-Rudman-Hollings Act.

Requires the Secretary to report to specified congressional committees on the Account.

What just happenedJun 22, 2000

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 626.

Who’s behind it

Rep. Fletcher, Ernie [R-KY-6](R-KY)Sponsor
24 cosponsors24 R
Read on Congress.gov
24cosponsors2committees23actions1related bills23subjects
  1. Jun 22, 2000Calendars

    Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 626.

  2. Jun 21, 2000IntroReferral

    Received in the Senate, read the first time.

  3. Jun 20, 2000FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  4. Jun 20, 2000FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 5 (Roll no. 296). (text: CR H4701-4702)

  5. Jun 20, 2000Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 5 (Roll no. 296).(text: CR H4701-4702)

  6. Jun 20, 2000FloorH30000

    Considered as unfinished business. (consideration: CR H4722-4723)

  7. Jun 20, 2000FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  8. Jun 20, 2000FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 4601.

  9. Jun 20, 2000FloorH30000

    Considered under suspension of the rules. (consideration: CR H4701-4708)

  10. Jun 20, 2000FloorH30300

    Mr. Archer moved to suspend the rules and pass the bill, as amended.

  11. Jun 12, 2000CalendarsH12410

    Placed on the Union Calendar, Calendar No. 377.

  12. Jun 12, 2000DischargeH12300

    Committee on The Budget discharged.

    Budget Committee
  13. Jun 12, 2000Committee5500

    Committee on The Budget discharged.

    Budget Committee
  14. Jun 12, 2000IntroReferralH11210

    House Committee on The Budget Granted an extension for further consideration ending not later than June 12, 2000.

    Budget Committee
  15. Jun 12, 2000CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 106-673, Part I.

    Ways and Means Committee
  16. Jun 12, 2000Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 106-673, Part I.

    Ways and Means Committee
  17. Jun 8, 2000CommitteeH19000

    Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 3.

    Ways and Means Committee
  18. Jun 8, 2000CommitteeH15000-B

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  19. Jun 8, 2000IntroReferralH11100

    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.

    Budget Committee
  20. Jun 8, 2000IntroReferralH11100-A

    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.

  21. Jun 8, 2000IntroReferralH11100

    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, 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.

    Ways and Means Committee
  22. Jun 8, 2000IntroReferralIntro-H

    Introduced in House

  23. Jun 8, 2000IntroReferral1000

    Introduced in House

Passed House amendedJun 20, 200036
Debt Reduction Reconciliation Act of 2000 - Establishes the Public Debt Reduction Payment Account in the Treasury. Requires the Secretary of the Treasury to use amounts in the Account to pay at maturity, or redeem or buy before maturity, any Government obligation held by the public and included in the public debt. Provides that any obligation which is paid, redeemed, or bought with amounts from the Account shall be canceled and retired and prohibits its reissuance.

Provides that if the Congressional Budget Office estimates an on-budget surplus for FY 2000 in a report submitted to the congressional budget committees pursuant to the Congressional Budget Act of 1974 that exceeds the amount of the surplus for such fiscal year set forth in the concurrent resolution on the budget for FY 2001 (H. Con. Res. 290, 106th Congress), then an amount equal to that excess is appropriated into the Account for FY 2000. Prohibits such appropriation from being considered as direct spending for purposes of pay-as-you-go provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Reduces the public debt limit by the amount appropriated into the Account.

Bars Account receipts and disbursements from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of : (1) the Federal budget as submitted by the President; (2) the congressional budget; or (3) the Gramm-Rudman-Hollings Act.

Requires the Secretary to report to specified congressional committees on the Account.

Reported to House amended, Part IJun 12, 200018
Debt Reduction Reconciliation Act of 2000 - Establishes the Public Debt Reduction Payment Account in the Treasury. Requires the Secretary of the Treasury to use amounts in the Account to pay at maturity, or redeem or buy before maturity, any Government obligation held by the public and included in the public debt. Provides that any obligation which is paid, redeemed, or bought with amounts from the Account shall be canceled and retired and prohibits its reissuance.

Provides that if the Congressional Budget Office estimates an on-budget surplus for FY 2000 in a report submitted to the congressional budget committees pursuant to the Congressional Budget Act of 1974 that exceeds the amount of the surplus for such fiscal year set forth in the concurrent resolution on the budget for FY 2001 (H. Con. Res. 290, 106th Congress), then an amount equal to that excess is appropriated into the Account for FY 2000. Prohibits such appropriation from being considered as direct spending for purposes of pay-as-you-go provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Reduces the public debt limit by the amount appropriated into the Account.

Bars Account receipts and disbursements from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of : (1) the Federal budget as submitted by the President; (2) the congressional budget; or (3) the Gramm-Rudman-Hollings Act.

Requires the Secretary to report to specified congressional committees on the Account.

Introduced in HouseJun 8, 200000
Debt Reduction Reconciliation Act of 2000 - Amends Federal public finance provisions to establish the Public Debt Reduction Payment Account in the Treasury. Requires the Secretary of the Treasury to use amounts in the Account to pay at maturity, or redeem or buy before maturity, any Government obligation held by the public and included in the public debt. Provides that any obligation which is paid, redeemed, or bought with amounts from the Account shall be canceled and retired and prohibits its reissuance.

Provides that if the Congressional Budget Office estimates an on-budget surplus for FY 2000 in a report submitted to the congressional budget committees pursuant to the Congressional Budget Act of 1974 that exceeds the amount of the surplus for such fiscal year set forth in the concurrent resolution on the budget for FY 2001 (H. Con. Res. 290, 106th Congress), then an amount equal to that excess is appropriated into the Account for FY 2000. Prohibits such appropriation from being considered as direct spending for purposes of pay-as-you-go provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Reduces the public debt limit by the amount appropriated into the Account.

Bars Account receipts and disbursements from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of : (1) the Federal Government budget as submitted by the President; (2) the congressional budget; or (3) the Gramm-Rudman-Hollings Act.

Requires the Secretary to report to Congress on the Account.