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Public Debt Reduction Fund (CRS Report for Congress)

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Release Date Revised June 28, 2006
Report Number RS20092
Report Type Report
Authors Pamela Jackson, Government and Finance Division
Source Agency Congressional Research Service
Older Revisions
  • Premium   Aug. 3, 2004 (4 pages, $24.95) add
Summary:

Reducing the federal public debt is regarded as an important goal by manytaxpayers. The Public Debt Reduction Fund provides for the acceptance of monetarygifts to be used for reducing the public debt by the Secretary of the Treasury and theAdministrator of General Services. Contributions may be taken as a charitablecontribution deduction by taxpayers who itemize their deductions in the year followingthe contribution. Since the fund's inception in 1961, over $65 million has been donated.