Debt Per Taxpayer Information Act

Section 1105(a) of title 31, United States Code, is amended by adding at the end the following:

(40) for the prior fiscal year, current fiscal year, the fiscal year for which the budget is submitted, and ensuing fiscal years, an estimate of the pro rata amount for each taxpayer who will file individual income tax returns for taxable years ending during such fiscal year of the debt held by the public and gross Federal debt.

Section 301(a) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 632(a)) is amended by adding at the end the following: In addition to the requirements in paragraphs (1) through (7), each concurrent resolution on the budget shall include, for the prior fiscal year, current fiscal year, the fiscal year beginning on October 1 of the current calendar year, and ensuing fiscal years, an estimate of the pro rata amount of the gross Federal debt for each taxpayer who will file individual income tax returns for taxable years ending during any such fiscal year.

Section 6051 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:

At the bottom of the employee’s copy of the form prescribed for furnishing the statements required pursuant to this section, the Secretary shall include, with respect to the most recently completed fiscal year, the following information:

(1) Total Federal Government revenue, outlays, and deficit.

(2) The total gross Federal debt.

(3) An estimate of the pro rata amount of the gross Federal debt for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year.

Such information shall be presented in a manner calculated to be understood by the average individual and shall be preceded by a conspicuous statement clarifying that dollar amounts are for informational purposes only and do not represent any amount owed.

The amendment made by this section shall apply to statements required to be furnished with respect to remuneration paid after December 31, 2023.