Summary: H.R.2992 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.2992. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/22/1987)

Taxpayers' Right to Know Act - Amends the Internal Revenue Code to require the Secretary of the Treasury to include on the first page of instruction booklets for filing individual income tax returns a pie-shaped graph depicting the relative sizes of the following categories of Federal outlay for the immediately preceding fiscal year: (1) defense, veterans, and foreign affairs; (2) Social Security, medicare, and other retirement; (3) physical, human, and community development; (4) social programs; (5) law enforcement and general government; and (6) interest on the debt.

Requires a corresponding pie-shaped graph illustrating income from: (1) Social Security, medicare, unemployment, and other retirement taxes; (2) personal income taxes; (3) corporate income taxes; (4) borrowing to cover the deficit; and (5) excise, customs, estate, gift, and miscellaneous taxes.

Requires specified footnotes to the graph depicting major outlay categories.