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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Deficit and Debt Reduction and Health Care Financing Act of 1994

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to impose a value added tax and to use the receipts from the tax to reduce the Federal budget deficit and Federal debt and to finance health care reform.

Actions Overview (1)

05/23/1994Introduced in Senate

All Actions (3)

06/27/1994Star Print ordered on on the bill.
Action By: Senate
05/23/1994Read twice and referred to the Committee on Finance.
Action By: Senate
05/23/1994Sponsor introductory remarks on measure. (CR S6197-6198)
Action By: Senate

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance05/23/1994 Referred to

No related bill information was received for S.2143.

Subjects (16)

Latest Summary (1)

There is one summary for S.2143. View summaries

Shown Here:
Introduced in Senate (05/23/1994)


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.