Read twice and referred to the Committee on Finance.
Congressional Research Service
Official summary
Version 00 · Introduced in Senate · Mar 8, 2007
National Priorities Act of 2007 - Rescinds after 2008 income tax reductions enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 for taxpayers with gross incomes in 2008 of over $400,000.
Reduces funding for the Department of Defense by $60 billion in FY2008. Authorizes the Secretary of Defense to make reductions by eliminating waste, fraud, and abuse, and weapon systems and other programs determined to be no longer a national security priority. Exempts from such reductions the needs of military personnel, including pay increases and health care.
Dedicates increases in revenues resulting from this Act to: (1) various programs for health care, education, energy conservation, and affordable housing; (2) increasing the earned income credit; and (3) reducing the federal deficit.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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