A bill to require Congress to establish for each fiscal year a ceiling on federal revenues prior to adoption of the First Concurrent Resolution on the Budget, and for other purposes.
Tax Control Act of 1979 - Amends the Budget and Accounting Act, 1921, to direct the President, beginning in fiscal year 1981, to submit a statement to the Congress with the annual budget on anticipated increases in total Federal revenues for the ensuing fiscal year attributable to inflation, growth of the gross national product, existing legislation, and proposed tax increases. Requires such statement to estimate the impact of such increases on taxpayers according to income level and family size and include any recommendations deemed appropriate.
Amends the Congressional Budget Act of 1974 to require the Committee on Ways and Means of the House and the Committee on Finance of the Senate to report to the House and Senate by March 1 of each year a concurrent resolution on taxes establishing a ceiling on Federal revenues for the ensuing fiscal year. Directs the Congress to complete action on such resolution by March 15 of each year.
Sets forth provisions governing the solicitation of the views of committee members, hearings, the committee reports, and the consideration of such resolution by the Congress.
Requires the adoption of the concurrent resolution on taxes for each fiscal year before either House of Congress may consider the first concurrent resolution on the budget for such year. Prohibits the level of Federal revenues in both the first and second concurrent resolutions on the budget from exceeding the ceiling established by the concurrent resolution on taxes.
Introduced in House
Introduced in House
Referred to House Committee on Government Operations.
Referred to House Committee on Rules.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line