Proposed Legislation to Reduce the National Debt

National Debt Reduction Act

Establish a Statute with the goal of making it a Constitutional Amendment.

Every Tax Payer may, on their tax return, designate any portion of their refund, if they have one coming, to reduce the principle on the national debt (ND).

This payment shall not only reduce the principle on the ND but it shall also reduce the ceiling on the ND by the equivalent amount.
Citizens may continue to do this until the ND has been reduced to zero and the ceiling has been reduced to zero.

The ceiling on the ND may not be raised in anticipation of this ACT being approved and the ceiling shall retroactively be amended to the level it was at the time this bill was introduced.

The ceiling on the ND may not be increased for any reason other than fully declared war that has the legislative approval of both the United States of America and the United Nations.

Any money collected as the result of government prosecution of private contractors who received government funds, for fraud or nonperformance on government awarded contracts shall be applied exclusively under the terms of this statute (after reasonable deductions to cover the cost of prosecution.)

No law or statute may be passed which has the intent, purpose, or effect to amend any of the definitions of words or phrases used in this statute or amendment which were in effect at the time of the passage of this bill.