3.0.0 4021 2023-01-11T13:27:00Z 2023-01-11T13:27:00Z House H HR 2014-02-10 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 4021.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the Constitution whichstates in part:``The Congress shall have Power to lay and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe common Defence and general Welfare of the UnitedStates.''[Page H1719]]]> hsgo00 Oversight and Accountability Committee House Standing Referred to 2014-02-10T17:00:31Z hsha00 Committee on House Administration House Standing Referred to 2014-02-10T17:00:26Z hswm00 Ways and Means Committee House Standing Referred to 2014-02-10T17:00:21Z 2014-02-10 Referred to the Committee on Ways and Means, and in addition to the Committees on House Administration, and Oversight and Government Reform, 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. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2014-02-10 Referred to the Committee on Ways and Means, and in addition to the Committees on House Administration, and Oversight and Government Reform, 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. IntroReferral H11100 2 House floor actions hsha00 Committee on House Administration 2014-02-10 Referred to the Committee on Ways and Means, and in addition to the Committees on House Administration, and Oversight and Government Reform, 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2014-02-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-02-10 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N Economics and Public Finance Budget deficits and national debt Government employee pay, benefits, personnel management Members of Congress Securities Economics and Public Finance 00 2014-02-10 Introduced in House 2014-03-28T21:03:59Z Debt Limit Reform and Congressional Pay for Performance Act of 2014 - Suspends the public debt limit for the period beginning on February 8, 2014, and ending on April 15, 2024.

Revises the special rule relating to obligations issued during the suspension period to provide for an increase in the debt limit, effective April 16, 2024, to the extent that: (1) the face amount of obligations issued and the face amount of obligations whose principal and interest are guaranteed by the federal government (except guaranteed obligations held by the Secretary of the Treasury) outstanding on April 16, 2024, exceeds (2) the face amount of such obligations outstanding on the date of enactment of this Act.

Prohibits an obligation from being taken into account unless its issuance was necessary to fund a commitment incurred by the federal government that required payment before April 16, 2024.

Requires the Director of the Office of Management and Budget (OMB) on December 31 of each of calendar years 2015 through 2023 to determine:

  • the sum of the face amount of obligations issued and the face amount of obligations whose principal and interest are guaranteed by the federal government (except guaranteed obligations held by the Secretary of the Treasury), outstanding at any time, for the most recent fiscal year which ended before the calendar year;
  • the amount equal to a specified applicable percentage of the Gross Domestic Product (GDP), as determined by the Secretary of Commerce, for such fiscal year; and
  • the percentage by which the sum of outstanding obligations for the most recent fiscal year exceeds, if it does, the applicable percentage of the GDP for that fiscal year.

Amends the Legislative Reorganization Act of 1946 to require the Director of OMB to reduce each annual rate of pay for Members of Congress by the percentage by which such sum of outstanding obligations for the most recent fiscal year exceeds the applicable percentage of the GDP for that fiscal year for all pay periods occurring during the calendar year beginning after that fiscal year.

Prohibits any cost of living adjustment to the rate of pay for any Member of Congress during the next calendar year.

]]> Debt Limit Reform and Congressional Pay for Performance Act of 2014 Display Title Debt Limit Reform and Congressional Pay for Performance Act of 2014 Short Titles as Introduced Debt Limit Reform and Congressional Pay for Performance Act of 2014 Official Title as Introduced To suspend the application of the limit on the Nation's debt for a 10-year period, to reduce the pay of Members of Congress for failing to meet fiscal sustainability targets, and for other purposes. Introduced in House 2014-02-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr4021ih/xml/BILLS-113hr4021ih.xml 2014-02-10 Referred to the Committee on Ways and Means, and in addition to the Committees on House Administration, and Oversight and Government Reform, 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. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.