To amend the Internal Revenue Code of 1986 to provide for taxpayers making donations with their returns of income tax to the Federal Government to pay down the public debt.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Buffett Rule Act of 2011''.
SEC. 2. DONATION TO PAY DOWN NATIONAL DEBT.
(a) In General.--Subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part:
``PART IX--DONATIONS TO PAY DOWN NATIONAL DEBT
``Sec. 6097. Donation to pay down national debt.
``SEC. 6097. DONATION TO PAY DOWN NATIONAL DEBT.
``(a) General Rule.--Every taxpayer who makes a return of the tax imposed by subtitle A for any taxable year may donate an amount (not less than $1), in addition to any payment of tax for such taxable year, which shall be deposited in the general fund of the Treasury. ``(b) Manner and Time of Designation.--Any donation under subsection (a) for any taxable year-- ``(1) shall be made at the time of filing the return of the tax imposed by subtitle A for such taxable year and in such manner as the Secretary may by regulation prescribe, except that-- ``(A) the designation for such donation shall be either on the first page of the return or on the page bearing the taxpayer's signature, and ``(B) the designation shall be by a...