Search Results for keywords:"national debt reduction"

Search Results: keywords:"national debt reduction"

H. R. 446 — To amend the Internal Revenue Code of 1986 to increase the rate of the excise tax on investment income of private colleges and universities.
January 15, 2025
Status:Introduced in House
Congress:119
Words:272
H. R. 446 aims to amend the Internal Revenue Code of 1986 by increasing the excise tax on investment income of private colleges and universities from 1.4 percent to 21 percent. The additional revenue generated from this tax increase is intended to be used initially to reduce...
Simple Explanation
H.R. 446 is about making private colleges and universities pay a lot more money on the money they make from investments, going from 1.4% to 21%, which is like making a kid give a much bigger piece of their cookie to help out with the grown-ups' bills.
S. 68 — To prohibit the suspension of collections on loans made to small businesses related to COVID–19, and for other purposes.
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February 10, 2025
Status:Reported to Senate
Congress:119
Words:2,069
The bill, known as the “Complete COVID Collections Act,” aims to prevent the suspension of collecting repayments on loans given to small businesses during COVID-19. It defines key terms related to loan programs and funding provided for COVID-19 relief, extends the authority of the Special...
Simple Explanation
The "Complete COVID Collections Act" is a plan that stops people from being able to pause their payments on loans given to small businesses during the COVID-19 pandemic, and it also wants to make sure that any money wrongly taken goes back to help pay off the country’s debt.
H. R. 824 — To require the evaluation of Federal agencies and programs for duplicative, wasteful, or outdated functions, and to recommend the elimination or realignment of such functions, and for other purposes.
January 28, 2025
Status:Introduced in House
Congress:119
Words:2,787
H.R. 824, also known as the "Government Office Realignment And Closure Act of 2025" or "GORAC Act of 2025," aims to evaluate Federal agencies and programs every ten years to identify and address outdated, wasteful, or duplicative functions. The Comptroller General will hire a non-Federal...
Simple Explanation
The bill wants to check if any parts of the government are doing the same job or wasting money. It suggests ways to fix this by cutting unnecessary parts or merging them, and tries to find new government jobs for workers affected by the changes.

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