/r/ModelUSHouseBudgetCom
The Committee of the Model House on Financial Services and Budget, for use with /r/ModelUSGov.
/r/ModelUSHouseBudgetCom
Section 1. Short Title
Section 2. Establishment & Purpose
Section 3. Enactment
Section 1. Short Title
Section 2. Establishment & Purpose
Section 3. Enactment
This is a test.
Amendment to Title 26 U.S.C
Whereas, an amendment to Title 26 of the U.S.C Code Paragraph 3 subsection C is needed.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section I: Name of Legislation
Section II: Amendment
Amend Title 26 of the U.S.C Code Paragraph 3 Subsection C from the current text:
Paragraph (3) of subsection (c) within section 501 of Title 26 (Internal Revenue Code) of the U.S. Code (U.S.C.) describes organizations which may be exempt from U.S. Federal income tax. 501(c)(3) is written as follows,[4] with the Johnson Amendment in bold letters:
Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition (but only if no part of its activities involve the provision of athletic facilities or equipment), or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual, no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation (except as otherwise provided in subsection (h)), and which does not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in opposition to) any candidate for public office.
To now read:
Corporations, and any community chest, fund, or foundation, organized and operated exclusively for, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition (but only if no part of its activities involve the provision of athletic facilities or equipment), or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual, no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation (except as otherwise provided in subsection (h)), and which does not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in opposition to) any candidate for public office.
*Section III: Implementation
*Written and Sponsored by /u/Scribba25 (D). **
Vote Results
Notification of the Results of Votes Conducted
Amendment Introduction
None.
Amendment Vote
None.
Committee Vote
None.
Hearings
None.
Order, order.
The following Business has had their votes concluded, and the results of the division(s) are as follows:
S. 13 - COMMON CENTS ACT - COMMITTEE VOTE
The Noes have it, and the Noes have it. The Bill shall now be discarded.
Vote Results
Notification of the Results of Votes Conducted
Amendment Introduction
None.
Amendment Vote
None.
Committee Vote
Hearings
None.
Whereas numerous spending programs have created a strain on the nation’s budget, necessitating monetary reforms to prevent a deficit.
Whereas inflation has reduced the monetary value of some metal currencies, such as the penny and nickel, to less than their material value.
Whereas manufacturing of some metal currencies uses valuable resources and laborers, that could be better applied elsewhere.
Whereas the continued use of these currencies serves as an egregious waste of taxpayer dollars, and a drain on national and international commerce.
This legislation may be referred to as “The Common Cents Act.”
(1) Material Value: Also known as the “melt value”, and refers to the value of a coin’s metallic contents at fair market prices.
(2) Monetary Value: The value of a coin as set by the United States Government and Federal Reserve.
(3) Metal to Money ratio: A ratio measuring the monetary value of a coin relative to its material value as a percent. 100% means the coin is worth the exact same as it’s metallic contents. Under 100% is generally preferred, and over 100% means the coin is worth less than the cost to manufacture it.
The People of the United States recognize the following:
(1) The Penny has a metal to money ratio of 299.49%, meaning it costs three cents worth of metal to manufacture one penny. The US Mint spends an average of 1.76 cents per penny on manufacturing pennies.
(2) The Nickel has a metal to money ratio of 120.03%, meaning it costs 1.2 nickels worth of metal to manufacture one nickel. The US Mint spends an average of 7 cents per nickel on manufacturing nickels.
(3) At the time of its discontinuation, the [American half-cent had a metal to money ratio of approximately 100%,](https://en.wikipedia.org/wiki/Half_cent_(United_States_coin) which is less than the current ratio of both pennies and nickels.
(4) American taxpayers lose 85.4 million dollars annually from penny production, and 33.5 million dollars annually from nickel production.
(5) The Federal Government has a responsibility to spend its resources prudently, and to minimize waste wherever possible. The continued manufacturing of pennies and nickels is a clear violation of this responsibility.
(1) 31 CFR § 82.1 Is struck in full.
(1) All manufacturing of pennies by the United States Government and United States Mint shall be suspended within a 90 day period of this bill’s passage.
(2) All manufacturing of nickels by the United States Government and United States Mint shall be suspended within a 90 day period of this bill’s passage.
(1) A five year period, or other appropriate period as amended by congress, shall be provided for citizens to trade in their pennies and nickels to governmental institutions, banks, or private institutions.
(2) After the five year period, or other appropriate period as amended by congress, has concluded governmental institutions, banks, and government affiliated private institutions shall no longer accept pennies or nickels as valid legal tender.
**(1)**The US Mint shall be instructed to ensure no coin has a metal to money ratio of more than 50% at any point in time. Should this ratio be exceeded, the mint shall be required to adjust the metallic contents of newly manufactured coins to reduce cost.
(2) Should any coin reach a metal to money value of over 100%, the US Mint shall be advised to suspend manufacturing of said coin.
(1) Severability: Notwithstanding any other provision of this title, if any provision of this section, or any amendment made by this section, or the application of such provision or amendment to any person or circumstance is held to be unconstitutional, this section and amendments made by this section and the application of such provision or amendment to other persons or circumstances shall not be affected thereby.
(2) This Act shall go into effect 90 days after the passage of the act through both chambers of the United States congress.
Authored by Mr. u/Zenobiyl2 of the State of Superior
Sponsored in the United States Senate by Mr. Adith_MUSG of Dixie and cosponsored in the House of Representatives by Mr. Cody5200 of the Atlantic Commonwealth and Majority Leader Ms. Parado-I of the Republic of Fremont.
Order, order.
The following Business has had their votes concluded, and the results of the division(s) are as follows:
H. R. 39 - DEBT RESPONSIBILITY ACT - COMMITTEE VOTE
Since the vote has ended in a tie, the Noes have it, and the Bill is now discarded.
Vote Results
None.
Amendment Introduction
Amendment Vote
None.
Committee Vote
H. R. 39 - Debt Responsibility Act
Hearings
None.
Whereas numerous spending programs have created a strain on the nation’s budget, necessitating monetary reforms to prevent a deficit.
Whereas inflation has reduced the monetary value of some metal currencies, such as the penny and nickel, to less than their material value.
Whereas manufacturing of some metal currencies uses valuable resources and laborers, that could be better applied elsewhere.
Whereas the continued use of these currencies serves as an egregious waste of taxpayer dollars, and a drain on national and international commerce.
This legislation may be referred to as “The Common Cents Act.”
(1) Material Value: Also known as the “melt value”, and refers to the value of a coin’s metallic contents at fair market prices.
(2) Monetary Value: The value of a coin as set by the United States Government and Federal Reserve.
(3) Metal to Money ratio: A ratio measuring the monetary value of a coin relative to its material value as a percent. 100% means the coin is worth the exact same as it’s metallic contents. Under 100% is generally preferred, and over 100% means the coin is worth less than the cost to manufacture it.
The People of the United States recognize the following:
(1) The Penny has a metal to money ratio of 299.49%, meaning it costs three cents worth of metal to manufacture one penny. The US Mint spends an average of 1.76 cents per penny on manufacturing pennies.
(2) The Nickel has a metal to money ratio of 120.03%, meaning it costs 1.2 nickels worth of metal to manufacture one nickel. The US Mint spends an average of 7 cents per nickel on manufacturing nickels.
(3) At the time of its discontinuation, the [American half-cent had a metal to money ratio of approximately 100%,](https://en.wikipedia.org/wiki/Half_cent_(United_States_coin) which is less than the current ratio of both pennies and nickels.
(4) American taxpayers lose 85.4 million dollars annually from penny production, and 33.5 million dollars annually from nickel production.
(5) The Federal Government has a responsibility to spend its resources prudently, and to minimize waste wherever possible. The continued manufacturing of pennies and nickels is a clear violation of this responsibility.
(1) 31 CFR § 82.1 Is struck in full.
(1) All manufacturing of pennies by the United States Government and United States Mint shall be suspended within a 90 day period of this bill’s passage.
(2) All manufacturing of nickels by the United States Government and United States Mint shall be suspended within a 90 day period of this bill’s passage.
(1) A five year period, or other appropriate period as amended by congress, shall be provided for citizens to trade in their pennies and nickels to governmental institutions, banks, or private institutions.
(2) After the five year period, or other appropriate period as amended by congress, has concluded governmental institutions, banks, and government affiliated private institutions shall no longer accept pennies or nickels as valid legal tender.
**(1)**The US Mint shall be instructed to ensure no coin has a metal to money ratio of more than 50% at any point in time. Should this ratio be exceeded, the mint shall be required to adjust the metallic contents of newly manufactured coins to reduce cost.
(2) Should any coin reach a metal to money value of over 100%, the US Mint shall be advised to suspend manufacturing of said coin.
(1) Severability: Notwithstanding any other provision of this title, if any provision of this section, or any amendment made by this section, or the application of such provision or amendment to any person or circumstance is held to be unconstitutional, this section and amendments made by this section and the application of such provision or amendment to other persons or circumstances shall not be affected thereby.
(2) This Act shall go into effect 90 days after the passage of the act through both chambers of the United States congress.
Authored by Mr. u/Zenobiyl2 of the State of Superior
Sponsored in the United States Senate by Mr. Adith_MUSG of Dixie and cosponsored in the House of Representatives by Mr. Cody5200 of the Atlantic Commonwealth and Majority Leader Ms. Parado-I of the Republic of Fremont.
Whereas 31 U.S Code 5112 section (k) is a loophole that allows the Treasury Secretary to mint and issue a platinum coin and prescribe any value to said coin
Whereas The loophole can allow the federal government to elude the debt ceiling
Whereas any absurdly valued coin can have a negative economic effect
Section 1. Short Title
(a) This Act may be referred to as “The Debt Responsibility Act”
Definitions: (a) All definitions have their meaning given to them by their respective sections of Federal code.
Findings:
- 31 U.S Code 5112 section (k), among other things, allows the Treasury Secretary to Mint Platinum Coins and assign any value.
- The aforementioned ability to assign any value presents a problem, The Federal Government could mint, for example, a Trillion Dollar Platinum Coin, Deposit into the Federal Reserves “Account” and effectively lower the National Debt by $1,000,000,000,000
- The obvious consequence is that this renders the debt ceiling useless, as Governments can simply Mint Billion or even Multi-Trillion Dollar Coins, then simply depositing them and lowering the National Debt.
- The ability for Governments to print infinite amounts of money is an extremely dangerous ability - Congress would have virtually nothing stopping them from spending as much as they want. This could cause extreme inflation, and cause the Economy to be even more reliant on Government funding & Support.
- While this has not yet been used in the past, Many Politicians have proposed using it at one point or another. In 2011 and 2013 Respectfully, the idea was suggested as a way of getting past the debt ceiling by the Democrats, due to Congressional Republicans refusing to raise it. Again in 2020 Rashida Talib proposed using it to fund monthly stimulus checks.
- It is quite obvious that not repealing 31 U.S Code 5112 Section (k) would lead to a disaster of debts, deficits, and inflation.
Provisions (if repealing something)
United States Commemorative Coin Act of 1996 (31 U.S.C. 5112 (k)) is hereby repealed in its entirety.
(a) Severability.—Notwithstanding any other provision of this title, if any provision of this section, or any amendment made by this section, or the application of such provision or amendment to any person or circumstance is held to be unconstitutional, this section and amendments made by this section and the application of such provision or amendment to other persons or circumstances shall not be affected thereby.
(b) This Act shall go into effect ninety days after it is signed into law.
Authored by u/turtlelogger Sponsored by u/mrwhiteyisawesome
Vote Results
Notification of Results for Votes Conducted
Amendment Introduction
H. R. 39 - Debt Responsibility Act
Amendment Vote
None.
Committee Vote
None.
Hearings
None.
Whereas 31 U.S Code 5112 section (k) is a loophole that allows the Treasury Secretary to mint and issue a platinum coin and prescribe any value to said coin
Whereas The loophole can allow the federal government to elude the debt ceiling
Whereas any absurdly valued coin can have a negative economic effect
Section 1. Short Title
(a) This Act may be referred to as “The Debt Responsibility Act”
Definitions: (a) All definitions have their meaning given to them by their respective sections of Federal code.
Findings:
<1) 31 U.S Code 5112 section (k), among other things, allows the Treasury Secretary to Mint Platinum Coins and assign any value.
<2) The aforementioned ability to assign any value presents a problem, The Federal Government could mint, for example, a Trillion Dollar Platinum Coin, Deposit into the Federal Reserves “Account” and effectively lower the National Debt by $1,000,000,000,000
<3) The obvious consequence is that this renders the debt ceiling useless, as Governments can simply Mint Billion or even Multi-Trillion Dollar Coins, then simply depositing them and lowering the National Debt.
<4) The ability for Governments to print infinite amounts of money is an extremely dangerous ability - Congress would have virtually nothing stopping them from spending as much as they want. This could cause extreme inflation, and cause the Economy to be even more reliant on Government funding & Support.
<5) While this has not yet been used in the past, Many Politicians have proposed using it at one point or another. In 2011 and 2013 Respectfully, the idea was suggested as a way of getting past the debt ceiling by the Democrats, due to Congressional Republicans refusing to raise it. Again in 2020 Rashida Talib proposed using it to fund monthly stimulus checks.
<6) It is quite obvious that not repealing 31 U.S Code 5112 Section (k) would lead to a disaster of debts, deficits, and inflation.
Provisions (if repealing something)
United States Commemorative Coin Act of 1996 (31 U.S.C. 5112 (k)) is hereby repealed in its entirety.
(a) Severability.—Notwithstanding any other provision of this title, if any provision of this section, or any amendment made by this section, or the application of such provision or amendment to any person or circumstance is held to be unconstitutional, this section and amendments made by this section and the application of such provision or amendment to other persons or circumstances shall not be affected thereby.
(b) This Act shall go into effect ninety days after it is signed into law.
Authored by u/turtlelogger Sponsored by u/mrwhiteyisawesome
Order, order.
The following Business has had their votes concluded, and the results of the division(s) are as follows:
H. R. 57 - ABOLITION OF PROPERTY ACT - COMMITTEE VOTE
Since the vote has ended in a tie, the vote fails and the Bill is discarded.
Vote Results
None.
Amendment Introduction
None.
Amendment Vote
None.
Committee Vote
H. R. 57 - Abolition of Property Act
Hearings
None.
#Abolition of Property Act
Whereas, property is a social construct invented by men for the purpose of maintaining capital for the benefit of the capitalists
Whereas, property requires the force of the state to ensure it remains
Whereas, property creates a society where there is way too many things while some people are artificially unable to get said things
Therefore,
BE IT ENACTED by the Congress and the Senate assembled that;
Section 1: Short Title
(a) This act may be referred to as the “Abolition of Property” Act.
Section 2: Definitions
(a) For the purposes of this act;
(i) ”property” refers to any thing or piece of a thing, plot of land, commodity, stock, money, or other things that is owned by a person or jointly held by a group of persons or a corporation.
Section 3: Abolition of Property
(a) No property may be held by any individual person. (b) All property is the property of society in common, with its use and apportionment decided in common. All use of property held in common shall be of a temporary usufruct until the item is consumed or no longer needed.
Section 4: Limits on Police Powers
(a) No person may be arrested or charged for any offense involving property.
Section 5: Severability
(a) Should any section, subsection, or clause be found unconstitutional or otherwise invalid, the unaffected clauses shall remain in force.
Section 6: Enactment
(a) This act shall come into force immediately upon receiving a signature by the President.
Authored by /u/b_fox2 (G), sponsored by /u/UnorthodoxAmbassador (G-FR-4)
Vote Results
None.
Amendment Introduction
H. R. 57 - Abolition of Property Act
Amendment Vote
None.
Committee Vote
None.
Hearings
None.
#Abolition of Property Act
Whereas, property is a social construct invented by men for the purpose of maintaining capital for the benefit of the capitalists
Whereas, property requires the force of the state to ensure it remains
Whereas, property creates a society where there is way too many things while some people are artificially unable to get said things
Therefore,
BE IT ENACTED by the Congress and the Senate assembled that;
Section 1: Short Title
(a) This act may be referred to as the “Abolition of Property” Act.
Section 2: Definitions
(a) For the purposes of this act;
(i) ”property” refers to any thing or piece of a thing, plot of land, commodity, stock, money, or other things that is owned by a person or jointly held by a group of persons or a corporation.
Section 3: Abolition of Property
(a) No property may be held by any individual person. (b) All property is the property of society in common, with its use and apportionment decided in common. All use of property held in common shall be of a temporary usufruct until the item is consumed or no longer needed.
Section 4: Limits on Police Powers
(a) No person may be arrested or charged for any offense involving property.
Section 5: Severability
(a) Should any section, subsection, or clause be found unconstitutional or otherwise invalid, the unaffected clauses shall remain in force.
Section 6: Enactment
(a) This act shall come into force immediately upon receiving a signature by the President.
Authored by /u/b_fox2 (G), sponsored by /u/UnorthodoxAmbassador (G-FR-4)
#Fair Play Act of 2021
SECTION 1. SHORT TITLE.
(a) This Act may be cited as the Fair Play Act of 2021”.
SEC. 2. FINDINGS.
Congress finds that
(a) The United States is ranked as the 20th freest economy in the world by the 2021 Index of Economic Freedom
(b) Since the 1930s and the introduction of the New Deal the United States has seen a drastic expansion of federal government powers in particular over the agricultural sector
(c) The United States currently operates over 2000 various subsidy programs at a significant cost to the United States taxpayer.
(d) In addition, the United States energy and agricultural sectors are subject to high levels of regulation and receive a disproportionate amount of financial assistance from federal and state governments.
(e) The United States currently employs a highly protectionist trade policy that artificially increases prices for consumers, leads to an unnecessarily high burden of taxation and prevents the efficient allocation of resources and capital.
(f) Many forms of the aforementioned support employed by the United States federal government are discriminatory and distort decision-making leading to lower consumer welfare
SEC. 3. Fair play in trade and international commerce
(a) In 19 U.S. Code Subchapter II -- Trade Agreements insert the following and redesignate accordingly
XX. Further trade liberalisation
(a) All tariffs including countervailing duties as defined in statute shall be reduced in accordance with the following schedule One year after enactment, all remaining duties or other import restrictions by 25% relative to FY 2021-2022 Two years after enactment, all remaining duties or other import restrictions shall be reduced by 40% relative to FY 2021-2022 Three years after enactment, all duties or other import restrictions shall be reduced by 70% relative to FY 2021-2022 Four years after enactment, all remaining duties or other import restrictions shall be reduced by 60% relative to FY 2021-2022 Five years after enactment, all remaining duties or other import restrictions shall be abolished in their entirety with the exception of countervailing duties which shall be reduced by 90% relative to FY 2021-2022 (b) Within 240 days of this Act's passage the Secretary and the Trade Representative shall enter talks with all OECD nations with the following aims
(I) Mutual abolition of tariffs, export subsidies and other forms of state aid (II) Increased regulatory coherence between the United States and OECD members as well as the reduction of any Non-Tariff Barriers (III) Abolition of capital controls between all OECD members (IV) further liberalisation of trade with OECD members and third countries
(c) Should the provisions of this section conflict with the remaining parts of the Act or any other part of the US code or other legislation pertaining to trade policy and import restrictions these provisions shall take precedence.
(b) Strike 19 U.S. Code § 1862
(c) Strike [ 7 U.S. Code § 624 - Limitation on imports; authority of President ] (https://www.law.cornell.edu/uscode/text/7/624)
(d) Strike 7 U.S. Code § 612c
(e) The export-import Bank is hereby abolished and the Export-Import Bank Act of 1945 (P.L. 79-173, 59 Stat. 526) is repealed in its entirety. Any funding allocated to this entity shall be transferred to the Department Of Commerce and any assets held by the Bank shall be auctioned off.
(f) 15 U.S. Code SUBCHAPTER II—PROMOTION OF EXPORT TRADE is repealed in its entirety
SEC. 4. Removal of certain special interest subsidies and other forms of state aid
(a) Any funds appropriated for the subsidies or other programs repealed or terminated by this Act shall transfer over to the departments that originally administered them,
(b) Where funds have already been allocated they shall be withdrawn at the beginning of the next fiscal year or as provided by the specific subsections of this Act
**(c) Title 7 of the U.S. Code is repealed in its entirety . Any provisions of the law affected by this subchapter are revived as if the Title had never been entered into law. This subsection shall take effect 66 months after the Act’s passage.*
(c) 42 U.S. Code CHAPTER 34—ECONOMIC OPPORTUNITY PROGRAM subchapters I through X are repealed
(d) [ 42 U.S. Code CHAPTER 194 -- NATIONAL ENERGY POLICY AND PROGRAMS ] ( https://www.law.cornell.edu/uscode/text/42/chapter-14) is repealed in its entirety
(e) 42 U.S. Code CHAPTER 59—NATIONAL URBAN POLICY AND NEW COMMUNITY DEVELOPMENT is repealed in its entirety
(g) 42 U.S. Code CHAPTER 134—ENERGY POLICY is repealed in its entirety
(f) In title 42 of the United States Code insert the following chapter
XXX. Subsidy removal
Subsidy defined - a subsidy shall have the same meaning as in 19 U.S. Code § 1677 - Definitions; special rules
All subsidies as defined by 19 U.S. Code § 1677 shall be discontinued by January 1st 2024 , unless provided otherwise in the Fair Play Act 2021 or said subsidies are set to expire before January 1st 2024.
SEC. 5. “Red tape challenge”
(a) Within 30 days of this Act’s passage all departments of the federal government shall carry out a review of all existing regulatory burdens and consultations with the public with the aim of decreasing regulatory burdens and minimising market distortions.
(b) In addition, all departments of the federal government shall undertake a review of all functions and assets currently attributed to them with the aim of finding savings and reducing governmental overhead
SEC. 6. Definitions
For the purposes of this Act
(a) A federal official shall be defined as any individual who is employed by or represents any department or agency of the United States Government or who is employed by any entity operating under the purview of the United States government
**(b)**The Secretary shall be defined as the United States Secretary of State
(c) The term “duty or other import restriction” shall have the same meaning as it does in 19 U.S. Code § 1806.Definitions include the rate and form of import duty, and all limitations, prohibitions, charges, and exemptions other than import duties, imposed on importation or imposed for the regulation of imports.
(d) A subsidy shall have the same meaning as in 19 U.S. Code § 1677 - Definitions; special rules
SEC. 7. ENACTMENT
(a) This bill shall be enacted immediately after being signed by the President unless stated otherwise within the body of the bill.
(b) Should any portion of this bill be found to be unconstitutional, unenforceable, or otherwise inoperable, the rest shall remain the law.
(c) The provisions of this bill supercede any previous laws. Any repeals made by this bill shall restore any laws that have been amended, repealed or otherwise affected by this Act as if the laws repealed by this Act had never been entered into law.
##Amendment Vote
##Vote Results
H. Res. 2
The Nays have it! The bill is laid aside.
#Fair Play Act of 2021
SECTION 1. SHORT TITLE.
(a) This Act may be cited as the Fair Play Act of 2021”.
SEC. 2. FINDINGS.
Congress finds that
(a) The United States is ranked as the 20th freest economy in the world by the 2021 Index of Economic Freedom
(b) Since the 1930s and the introduction of the New Deal the United States has seen a drastic expansion of federal government powers in particular over the agricultural sector
(c) The United States currently operates over 2000 various subsidy programs at a significant cost to the United States taxpayer.
(d) In addition, the United States energy and agricultural sectors are subject to high levels of regulation and receive a disproportionate amount of financial assistance from federal and state governments.
(e) The United States currently employs a highly protectionist trade policy that artificially increases prices for consumers, leads to an unnecessarily high burden of taxation and prevents the efficient allocation of resources and capital.
(f) Many forms of the aforementioned support employed by the United States federal government are discriminatory and distort decision-making leading to lower consumer welfare
SEC. 3. Fair play in trade and international commerce
(a) In 19 U.S. Code Subchapter II -- Trade Agreements insert the following and redesignate accordingly
XX. Further trade liberalisation
(a) All tariffs including countervailing duties as defined in statute shall be reduced in accordance with the following schedule One year after enactment, all remaining duties or other import restrictions by 25% relative to FY 2021-2022 Two years after enactment, all remaining duties or other import restrictions shall be reduced by 40% relative to FY 2021-2022 Three years after enactment, all duties or other import restrictions shall be reduced by 70% relative to FY 2021-2022 Four years after enactment, all remaining duties or other import restrictions shall be reduced by 60% relative to FY 2021-2022 Five years after enactment, all remaining duties or other import restrictions shall be abolished in their entirety with the exception of countervailing duties which shall be reduced by 90% relative to FY 2021-2022 (b) Within 240 days of this Act's passage the Secretary and the Trade Representative shall enter talks with all OECD nations with the following aims
(I) Mutual abolition of tariffs, export subsidies and other forms of state aid (II) Increased regulatory coherence between the United States and OECD members as well as the reduction of any Non-Tariff Barriers (III) Abolition of capital controls between all OECD members (IV) further liberalisation of trade with OECD members and third countries
(c) Should the provisions of this section conflict with the remaining parts of the Act or any other part of the US code or other legislation pertaining to trade policy and import restrictions these provisions shall take precedence.
(b) Strike 19 U.S. Code § 1862
(c) Strike [ 7 U.S. Code § 624 - Limitation on imports; authority of President ] (https://www.law.cornell.edu/uscode/text/7/624)
(d) Strike 7 U.S. Code § 612c
(e) The export-import Bank is hereby abolished and the Export-Import Bank Act of 1945 (P.L. 79-173, 59 Stat. 526) is repealed in its entirety. Any funding allocated to this entity shall be transferred to the Department Of Commerce and any assets held by the Bank shall be auctioned off.
(f) 15 U.S. Code SUBCHAPTER II—PROMOTION OF EXPORT TRADE is repealed in its entirety
SEC. 4. Removal of certain special interest subsidies and other forms of state aid
(a) Any funds appropriated for the subsidies or other programs repealed or terminated by this Act shall transfer over to the departments that originally administered them,
(b) Where funds have already been allocated they shall be withdrawn at the beginning of the next fiscal year or as provided by the specific subsections of this Act
(c) Title 7 of the U.S. Code is repealed in its entirety . Any provisions of the law affected by this subchapter are revived as if the Title had never been entered into law. This subsection shall take effect 66 months after the Act’s passage.
(d) 42 U.S. Code CHAPTER 34—ECONOMIC OPPORTUNITY PROGRAM subchapters I through X are repealed
(e) [ 42 U.S. Code CHAPTER 194 -- NATIONAL ENERGY POLICY AND PROGRAMS ] ( https://www.law.cornell.edu/uscode/text/42/chapter-14) is repealed in its entirety
(f) 42 U.S. Code CHAPTER 59—NATIONAL URBAN POLICY AND NEW COMMUNITY DEVELOPMENT is repealed in its entirety
(g) 42 U.S. Code CHAPTER 134—ENERGY POLICY is repealed in its entirety
(h) In title 42 of the United States Code insert the following chapter
XXX. Subsidy removal
Subsidy defined - a subsidy shall have the same meaning as in 19 U.S. Code § 1677 - Definitions; special rules
All subsidies as defined by 19 U.S. Code § 1677 shall be discontinued by January 1st 2024 , unless provided otherwise in the Fair Play Act 2021 or said subsidies are set to expire before January 1st 2024.
SEC. 5. “Red tape challenge”
(a) Within 30 days of this Act’s passage all departments of the federal government shall carry out a review of all existing regulatory burdens and consultations with the public with the aim of decreasing regulatory burdens and minimising market distortions.
(b) In addition, all departments of the federal government shall undertake a review of all functions and assets currently attributed to them with the aim of finding savings and reducing governmental overhead
SEC. 6. Definitions
For the purposes of this Act
(a) A federal official shall be defined as any individual who is employed by or represents any department or agency of the United States Government or who is employed by any entity operating under the purview of the United States government
**(b)**The Secretary shall be defined as the United States Secretary of State
(c) The term “duty or other import restriction” shall have the same meaning as it does in 19 U.S. Code § 1806.Definitions include the rate and form of import duty, and all limitations, prohibitions, charges, and exemptions other than import duties, imposed on importation or imposed for the regulation of imports.
(d) A subsidy shall have the same meaning as in 19 U.S. Code § 1677 - Definitions; special rules
SEC. 7. ENACTMENT
(a) This bill shall be enacted immediately after being signed by the President unless stated otherwise within the body of the bill.
(b) Should any portion of this bill be found to be unconstitutional, unenforceable, or otherwise inoperable, the rest shall remain the law.
(c) The provisions of this bill supercede any previous laws. Any repeals made by this bill shall restore any laws that have been amended, repealed or otherwise affected by this Act as if the laws repealed by this Act had never been entered into law.
IN THE HOUSE OF REPRESENTATIVES June 22, 2021
Mr. Fire (for himself, authored) and Mr. Cody sponsored and submitted the following resolution,
A RESOLUTION
To express the interest in backing the cryptocurrency Bitcoin
Whereas, Bitcoin is a decentralized cryptocurrency that exchanges currency for verifying transactions, and
Whereas, Bitcoin is not tied to any currency and can prove reliable in ensuring value is retained in the event of inflation or currency collapse, and
Whereas, cryptocurrencies can be easily exchanged domestically and internationally for currencies, and Bitcoin is being widely accepted at several major companies, and
Whereas, it is in the best interest in the citizens of the United States to have independent currency separate from any government or entity,
Now, therefore, be it established that the House of Representatives — Urges the president and Secretary of the Treasury to recognize Bitcoin as an official currency within the United States
Calls on the President to authorize the purchase of a small reserve of various cryptocurrencies
IN THE HOUSE OF REPRESENTATIVES June 22, 2021
Mr. Fire (for himself, authored) and Mr. Cody sponsored and submitted the following resolution,
A RESOLUTION
To express the interest in backing the cryptocurrency Bitcoin
Whereas, Bitcoin is a decentralized cryptocurrency that exchanges currency for verifying transactions, and
Whereas, Bitcoin is not tied to any currency and can prove reliable in ensuring value is retained in the event of inflation or currency collapse, and
Whereas, cryptocurrencies can be easily exchanged domestically and internationally for currencies, and Bitcoin is being widely accepted at several major companies, and
Whereas, it is in the best interest in the citizens of the United States to have independent currency separate from any government or entity,
Now, therefore, be it established that the House of Representatives — Urges the president and Secretary of the Treasury to recognize Bitcoin as an official currency within the United States
Calls on the President to authorize the purchase of a small reserve of various cryptocurrencies