A bill to amend the Internal Revenue Code of 1986 to require that the major categories of Federal outlays and income be shown in graphs on the first page of the instructions for individual income tax returns.
Taxpayers' Right to Know Act - Amends the Internal Revenue Code to require the Secretary of the Treasury to include on the first page of instruction booklets for filing individual income tax returns a pie-shaped graph depicting the relative sizes of the following categories of Federal outlay for the immediately preceding fiscal year: (1) defense, veterans, and foreign affairs; (2) Social Security, medicare, and other retirement; (3) physical, human, and community development; (4) social programs; (5) law enforcement and general government; and (6) interest on the debt.
Requires a corresponding pie-shaped graph illustrating income from: (1) Social Security, medicare, unemployment, and other retirement taxes; (2) personal income taxes; (3) corporate income taxes; (4) borrowing to cover the deficit; and (5) excise, customs, estate, gift, and miscellaneous taxes.
Requires specified footnotes to the graph depicting major outlay categories.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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