Debt Reduction and Fiscal Responsibility Restoration Act of 2003
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Committee
Latest Action · October 15, 2003
Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, 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.
Debt Reduction and Fiscal Responsibility Restoration Act of 2003 - Establishes in the Treasury the Deficit Reduction Account, to be used by the Secretary of the Treasury to pay at maturity, or to redeem or buy before maturity, any obligation of the Government held by the public and included in the public debt. Requires the Secretary to report annually to each House of Congress on the amounts and dates of deposits into the Account and on the public debt redeemed during the previous year.
Amends the Rules of the House of Representatives to provide that it shall be in order, during the reading of an appropriation bill for amendment in the Committee of the Whole House on the state of the Union, to consider en bloc amendments proposing only to reduce appropriations among objects in the bill and to appropriate an amount not greater than the amount so reduced to the Account.
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