3.0.0 1529 2023-01-11T13:35:38Z 2023-01-11T13:35:38Z House HR 2017-03-15 115 [Congressional Record Volume 163, Number 45 (Wednesday, March 15, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SANFORD:H.R. 1529.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the United States Constitution[Page H2083]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-03-15T20:31:40Z 2017-03-15 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-03-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-03-15 Introduced in House IntroReferral 1000 9 Library of Congress S000051 Rep. Sanford, Mark [R-SC-1] Mark Sanford R SC 1 N M001187 Rep. Meadows, Mark [R-NC-11] Mark Meadows R NC 11 2017-03-15 True G000580 Rep. Garrett, Thomas A., Jr. [R-VA-5] Thomas Garrett R VA A. 5 2017-06-06 False B000213 Rep. Barton, Joe [R-TX-6] JOE BARTON R TX L. 6 2017-06-07 False L000573 Rep. Labrador, Raul R. [R-ID-1] Raul Labrador R ID R. 1 2017-06-13 False Y000065 Rep. Yoho, Ted S. [R-FL-3] Ted Yoho R FL S. 3 2018-02-15 False B001305 Rep. Budd, Ted [R-NC-13] Ted Budd R NC 13 2018-02-15 False Economics and Public Finance Budget deficits and national debt Employee benefits and pensions Financial services and investments Government employee pay, benefits, personnel management Government trust funds Health care costs and insurance Postal service Presidents and presidential powers, Vice Presidents Securities State and local finance Economics and Public Finance 00 2017-03-15 Introduced in House 2017-03-27T17:41:11Z Debt Limit Control and Accountability Act of 2017

This bill prohibits the Department of the Treasury from using extraordinary measures either to prevent the United States from reaching the statutory debt limit or once the debt limit has been reached.

Under the bill, extraordinary measures are:

  • suspending investments of the Thrift Savings Plan G Fund or the Exchange Stabilization Fund,
  • suspending the issuance of new securities to the Civil Service Retirement and Disability Fund and Postal Service Retiree Health Benefits Fund,
  • redeeming early securities held by the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund,
  • suspending the issuance of new State and Local Government Series securities and savings bonds,
  • replacing Treasury securities subject to the debt limit with debt issued by the Federal Financing Bank, or
  • any other extraordinary actions taken by Treasury to avoid defaulting on the obligations of the United States.

The bill also repeals statutory provisions that established procedures for presidential modification of the debt ceiling.

]]> Debt Limit Control and Accountability Act of 2017 Display Title Debt Limit Control and Accountability Act of 2017 Official Title as Introduced To prohibit the Secretary of the Treasury from using extraordinary measures to prevent the Government from reaching the statutory debt limit, or using extraordinary measures once such limit has been reached, and for other purposes. Introduced in House IH Short Titles as Introduced Debt Limit Control and Accountability Act of 2017 Introduced in House 2017-03-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr1529ih/xml/BILLS-115hr1529ih.xml 2017-03-15 Referred to the House Committee on Ways and Means. 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.