Taxpayer Receipt Act
Source: Congress.gov ·
267 words in original text
What This Bill Does
This bill requires the Secretary of the Treasury to send taxpayers a one-page document with information about the federal budget. The document covers the most recently completed fiscal year and includes four pieces of financial information about the federal government.
Who It Affects
Each individual who files a Federal income tax return for a taxable year.
Key Provisions
• The Secretary of the Treasury (or their delegate) must provide each individual filing a Federal income tax return with a one-page document (Sec. 2)
• The document must include total Federal outlays (money spent) during the most recently completed fiscal year (Sec. 2)
• The document must include total Federal revenues (money collected) during the most recently completed fiscal year (Sec. 2)
• The document must include the Federal deficit or surplus for the most recently completed fiscal year (Sec. 2)
• The document must include the total Federal debt held by the public (Sec. 2)
What Changes
Taxpayers will receive a one-page summary of federal budget information when they file their income tax returns. This information was not previously required to be provided to individual taxpayers.
Important Definitions
None defined in bill text.
Important: This plain English summary was generated by AI and is provided for informational purposes only.
It is not legal advice. Always consult the official bill text on Congress.gov
or a qualified attorney for legal matters.