S.2143 - Deficit and Debt Reduction and Health Care Financing Act of 1994103rd Congress (1993-1994)
|Sponsor:||Sen. Hollings, Ernest F. [D-SC] (Introduced 05/23/1994)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 06/27/1994 Star Print ordered on on the bill. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: S.2143 — 103rd Congress (1993-1994)All Information (Except Text)
Introduced in Senate (05/23/1994)
TABLE OF CONTENTS:
Title I: Value Added Tax
Title II: Surplus Revenues
Deficit and Debt Reduction and Health Care Financing Act of 1994 - Title I: Value Added Tax - Amends the Internal Revenue Code to impose a five percent tax on taxable transactions (such tax to be known as a value added tax). Describes taxable transactions as the sale, import, or export of certain property or services. Sets forth rules for the administration of such tax.
Title II: Surplus Revenues - Establishes the Deficit Reduction and Health Care Reform Trust Fund. Appropriates to such Fund 80 percent of the revenues from the value added tax to reduce the public debt and 20 percent to carry out Federal health care reform programs.