Public Debt Reduction Act

Public Debt Reduction Act - Permits taxpayers to designate that $10 or less of their income tax be used to reduce the public debt. Establishes on the books of the Treasury of the United States a fund to be known as the "Public Debt Reduction Fund". Authorizes to be appropriated to the fund for each fiscal year, out of amounts in the general fund of the Treasury not otherwise appropriated, an amount equal to amounts designated by taxpayers on their income tax returns.

Stipulates that amounts in the Fund shall be available solely for reduction of the public debt.