A bill to amend the Internal Revenue Code of 1954 to provide a mechanism for taxpayers to designate overpayments of income tax, and to contribute other amounts, for purposes of reducing the public debt of the United States.

Amends the Internal Revenue Code to permit a taxpayer to designate on his or her tax return that one dollar or more of any overpayment of income tax, and any cash contributions which the taxpayer includes with such return, shall be used to reduce the public debt of the United States.