HR6889-118

1. Short title This Act may be cited as the True Cost Act.

2. Requirement in budget submission with respect to the cost per taxpayer of the deficit Section 1105(a) of title 31, United States Code, is amended by adding at the end the following: in the case of a fiscal year in which the budget is projected to result in a deficit, an estimate of the pro rata cost of such deficit for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year; and in the case of any fiscal year, an estimate of the pro rata cost of the public debt for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year. (40) (A)in the case of a fiscal year in which the budget is projected to result in a deficit, an estimate of the pro rata cost of such deficit for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year; and (B)in the case of any fiscal year, an estimate of the pro rata cost of the public debt for taxpayers who will file individual income tax returns for taxable years ending during such fiscal year..