Content Details
H.R. 5083 (IH) - Debt Ceiling Alternative Act
- Category
- Bills and Statutes
- Collection
- Congressional Bills
- SuDoc Class Number
- Y 1.6:
Y 1.4/6:
- Congress Number
- 116th Congress
- Congress Session
- 1st Session
- Last Action Date Listed
- November 14, 2019
- Action
- Mr. Schweikert (for himself, Mr. Norman, Mr. Meadows, and Mr. Gaetz) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
- Bill Number
- H.R. 5083
- Bill Version
- Introduced in House (IH)
- Short Title
- Debt Ceiling Alternative Act
- Full Title
- To provide that, in the event that the Secretary of the Treasury estimates that the debt ceiling will be reached, the Secretary is required to issue GDP-linked bonds to pay the principal and interest on the public debt and the President is authorized to request the rescission of certain unobligated balances and sell certain mortgage-related assets, and for other purposes.
- Sponsors
- David Schweikert(AZ)
- Cosponsors
- Ralph Norman (SC); Mark Meadows (NC); Matt Gaetz (FL)
- Committees
- Committee on Financial Services (Standing), Committee on the Budget (Standing), Committee on Rules (Standing), Committee on Ways and Means (Standing)
- United States Code References
- 2 U.S.C. 688
31 U.S.C. 3101 and 3101
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