3.0.0 846 2024-07-24T15:23:27Z 2024-07-24T15:23:27Z House H HR 2023-02-06 118 [Congressional Record Volume 169, Number 24 (Monday, February 6, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SCHWEIKERT:H.R. 846.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18 of the U.S. Constitution:The Congress shall have the Power to make all Laws whichshall be necessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.The single subject of this legislation is:When Secretary of the Treasury anticipates either that thepublic debt will reach the limit or that extraordinarymeasures will be taken to prevent the United States fromdefaulting on its obligations, the Secretary shall appearbefore the Committee on Ways and Means of the House ofRepresentatives and the Committee on Finance of the Senate.[Page H710]]]> hswm00 Ways and Means Committee House Standing Referred to 2023-02-06T17:02:35Z 2023-02-06 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-02-06 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-02-06 Introduced in House IntroReferral 1000 9 Library of Congress S001183 Rep. Schweikert, David [R-AZ-1] David Schweikert R AZ 1 N S001172 Rep. Smith, Adrian [R-NE-3] Adrian Smith R NE 3 2023-02-06 True S001199 Rep. Smucker, Lloyd [R-PA-11] Lloyd Smucker R PA 11 2023-02-06 True S001214 Rep. Steube, W. Gregory [R-FL-17] W. Steube R FL Gregory 17 2023-02-17 False D000032 Rep. Donalds, Byron [R-FL-19] Byron Donalds R FL 19 2023-04-25 False Economics and Public Finance Economics and Public Finance 2023-03-29T11:48:15Z 00 2023-02-06 Introduced in House 2023-08-18T20:26:39Z Debt Explanation Before Taxwriters Act or the DEBT Act

This bill requires the Secretary of the Treasury to appear before the House Ways and Means Committee and the Senate Finance Committee before the federal debt limit is reached or extraordinary measures are taken to prevent the United States from defaulting on its obligations.

The term extraordinary measures generally refers to a series of actions that the Department of the Treasury may implement to allow the United States to borrow additional funds without exceeding the debt limit. The measures generally include suspensions or delays of debt sales and suspensions or redemptions of investments in certain government funds.

The bill requires the Secretary of the Treasury to appear before the committees to provide a detailed explanation of (1) the extraordinary measures that Treasury will take and the administrative costs of taking the measures, and (2) any reversal of such measures and any other changes in the funding of federal government obligations.

]]> DEBT Act Display Title 45 DEBT Act 2024-07-24T15:23:27Z Short Title(s) as Introduced 101 DEBT Act 2024-05-24T13:41:50Z Introduced in House IH Short Title(s) as Introduced 101 Debt Explanation Before Taxwriters Act 2024-05-24T13:41:50Z Introduced in House IH Official Title as Introduced 6 To amend title 31, United States Code, to require the Secretary of the Treasury to appear before Congress before the debt limit is reached or extraordinary measures are taken to prevent default. 2024-03-18T20:17:53Z Introduced in House IH Introduced in House 2023-02-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr846ih/xml/BILLS-118hr846ih.xml 2023-02-06 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.