[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3737 Introduced in House (IH)]

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114th CONGRESS
  1st Session
                                H. R. 3737

To responsibly pay our Nation's bills on time by temporarily extending 
             the public debt limit, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 9, 2015

  Mr. Welch introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To responsibly pay our Nation's bills on time by temporarily extending 
             the public debt limit, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Responsibly Paying Our Nation's 
Bills Act''.

SEC. 2. TEMPORARY EXTENSION OF PUBLIC DEBT LIMIT.

    (a) In General.--Section 3101(b) of title 31, United States Code, 
shall not apply for the period beginning on the date of the enactment 
of this Act and ending on January 1, 2017.
    (b) Special Rule Relating to Obligations Issued During Extension 
Period.--Effective January 1, 2017, the limitation in effect under 
section 3101(b) of title 31, United States Code, shall be increased to 
the extent that--
            (1) the face amount of obligations issued under chapter 31 
        of such title and the face amount of obligations whose 
        principal and interest are guaranteed by the United States 
        Government (except guaranteed obligations held by the Secretary 
        of the Treasury) outstanding on January 1, 2017, exceeds
            (2) the face amount of such obligations outstanding on the 
        date of the enactment of this Act.
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