[Congressional Record Volume 168, Number 30 (Tuesday, February 15, 2022)]
[Senate]
[Pages S708-S710]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mr. PADILLA (for himself, Mr. Warnock, Mr. Blumenthal, Mr. 
        Booker, Mr. Carper, Mr. Casey, Ms. Duckworth, Mrs. Feinstein, 
        Mr. Heinrich, Mr. Markey, Mr. Merkley, Mr. Peters, Mr. Reed, 
        Mr. Sanders, Ms. Smith, Mr. Van Hollen, and Mr. Wyden):
  S. 3649. A bill to establish an advisory committee to provide 
independent advice and recommendations to the Secretary of 
Transportation regarding comprehensive, interdisciplinary issues 
relating to transportation from a variety of stakeholders in 
transportation planning, design, research, policy, and advocacy, and 
for other purposes; to the Committee on Commerce, Science, and 
Transportation.
  Mr. PADILLA. Mr. President, I rise to speak in support of the 
Transportation Equity Act, which I introduced today.
  As our Nation is making historic investments in our transportation 
infrastructure through the bipartisan intrastructure law, equity should 
be at the forefront of the Federal Government's plans to revitalize 
communities and ensure access, mobility, and opportunity for all.
  One of President Biden's first actions in office was signing an 
Executive order on advancing racial equity and support for underserved 
communities through the Federal Government, which states, ``Our Nation 
deserves an ambitious whole-of-government equity agenda that matches 
the scale of the opportunities and challenges that we face.''
  To accomplish this bold agenda, we need the interaction and 
involvement of diverse groups of stakeholders to ensure communities are 
heard and create effective policies.
  Fortunately, we have a model for how we can bring such groups 
together to infuse equity into our transportation and infrastructure 
investments. In 2016, the U.S. Department of Transportation established 
the Advisory Committee on Transportation Equity to provide advice and 
recommendations on comprehensive, interdisciplinary issues related to 
transportation equity from a variety of stakeholders involved in 
transportation planning, design, research, policy, and advocacy.
  That is why I am proud to introduce this bill with Senator Warnock to 
permanently reestablish the Advisory Committee on Transportation Equity 
within the U.S. Department of Transportation.
  This bill would help recognize the role that transportation plays on 
related issues like public health, housing, accessibility, 
environmental justice, economic opportunity, and more.
  I want to thank Senator Warnock for coleading this bill with me, and 
I hope our colleagues will join us in support of this bill to help 
redress inequities in transportation infrastructure and empower 
communities to build back better.
                                 ______
                                 
      By Mr. DURBIN:
  S. 3654. A bill to amend Chapter 31 of title 31, United States Code, 
to provide procedures for congressional disapproval of the issuance of 
additional debt; to the Committee on Finance.
  Mr. DURBIN. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 3654

       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 ``Debt Ceiling Reform Act''.

     SEC. 2. PROCEDURES FOR CONGRESSIONAL DISAPPROVAL OF ISSUANCE 
                   OF ADDITIONAL DEBT.

       Section 3101 of title 31, United States Code, is amended to 
     read as follows:

     ``Sec. 3101. Public debt limit

       ``(a) Definition of Joint Resolution.--In this section, the 
     term `joint resolution' means a joint resolution--

[[Page S709]]

       ``(1) that is introduced during the period--
       ``(A) beginning on the date on which a certification under 
     subsection (b)(1) is received; and
       ``(B) ending on the date that is 3 calendar days after the 
     date described in subparagraph (A) (or, if a House was not in 
     session, the next calendar day on which that House is in 
     session);
       ``(2) which does not have a preamble;
       ``(3) the title of which is only as follows: `Joint 
     resolution relating to the disapproval of the President's 
     exercise of authority to issue additional debt, as submitted 
     under section 3101 of title 31, United States Code, on 
     ______' (with the blank space being filled in with the date 
     on which the applicable certification under subsection (b)(1) 
     was received); and
       ``(4) the matter after the resolving clause of which is 
     only as follows: `That Congress disapproves of the 
     President's exercise of the authority to issue additional 
     debt, as exercised pursuant to the certification under 
     section 3101(b) of title 31, United States Code.'.
       ``(b) Certification.--
       ``(1) In general.--The President shall submit to Congress a 
     written certification whenever the President determines that 
     the debt is within $100,000,000,000 of a $1,000,000,000,000 
     increment and that further borrowing is required to meet 
     existing commitments.
       ``(2) Authority to issue debt after certification.--Subject 
     to the requirements of this section, the United States may 
     issue additional debt as necessary to meet existing 
     commitments on and after the date on which the President 
     submits a written certification to Congress under paragraph 
     (1).
       ``(3) Resolution of disapproval.--Congress may consider a 
     joint resolution relating to each certification submitted by 
     the President under paragraph (1).
       ``(c) Enactment of Joint Resolution.--The United States may 
     not issue additional debt if, not later than 50 calendar days 
     after the date on which Congress receives a certification 
     submitted under subsection (b)(1) (regardless of whether 
     Congress is in session), there is enacted into law a joint 
     resolution disapproving the President's exercise of authority 
     to issue additional debt.
       ``(d) Expedited Consideration in the House of 
     Representatives.--
       ``(1) Reconvening.--Upon receipt of a certification 
     submitted under subsection (b)(1), the Speaker, if the House 
     of Representatives would otherwise be adjourned, shall notify 
     the Members of the House of Representatives that, pursuant to 
     this section, the House of Representatives shall convene not 
     later than the second calendar day after receipt of such 
     certification.
       ``(2) Reporting and discharge.--Any committee of the House 
     of Representatives to which a joint resolution is referred 
     shall report it to the House of Representatives without 
     amendment not later than 5 calendar days after the date of 
     introduction of the joint resolution. If a committee fails to 
     report the joint resolution within that period, the committee 
     shall be discharged from further consideration of the joint 
     resolution and the joint resolution shall be referred to the 
     appropriate calendar.
       ``(3) Proceeding to consideration.--After each committee 
     authorized to consider a joint resolution reports it to the 
     House of Representatives or has been discharged from its 
     consideration, it shall be in order, not later than the sixth 
     day after introduction of the joint resolution, to move to 
     proceed to consider the joint resolution in the House of 
     Representatives. All points of order against the motion are 
     waived. Such a motion shall not be in order with respect to a 
     joint resolution relating to a certification after the House 
     of Representatives has disposed of a motion to proceed that 
     joint resolution. The previous question shall be considered 
     as ordered on the motion to its adoption without intervening 
     motion. The motion shall not be debatable. A motion to 
     reconsider the vote by which the motion is disposed of shall 
     not be in order.
       ``(4) Consideration.--A joint resolution shall be 
     considered as read. All points of order against a joint 
     resolution and against its consideration are waived. An 
     amendment to a joint resolution is not in order. The previous 
     question shall be considered as ordered on a joint resolution 
     to its passage without intervening motion except 2 hours of 
     debate equally divided and controlled by the proponent and an 
     opponent. A motion to reconsider the vote on passage of a 
     joint resolution shall not be in order.
       ``(e) Expedited Procedure in the Senate.--
       ``(1) Reconvening.--Upon receipt of a certification under 
     subsection (b)(1), if the Senate has adjourned or recessed 
     for more than 2 days, the majority leader of the Senate, 
     after consultation with the minority leader of the Senate, 
     shall notify the Members of the Senate that, pursuant to this 
     section, the Senate shall convene not later than the second 
     calendar day after receipt of such message.
       ``(2) Placement on calendar.--Upon introduction in the 
     Senate, a joint resolution shall be immediately placed on the 
     calendar.
       ``(3) Floor consideration.--
       ``(A) In general.--Notwithstanding rule XXII of the 
     Standing Rules of the Senate, it is in order at any time 
     during the period beginning on the day after the date on 
     which Congress receives a certification under subsection 
     (b)(1) and ending on the 6th day after the date on which 
     Congress receives the certification (even though a previous 
     motion to the same effect has been disagreed to) to move to 
     proceed to the consideration of a joint resolution relating 
     to the certification, and all points of order against the 
     joint resolution (and against consideration of the joint 
     resolution) are waived. The motion to proceed is not 
     debatable. The motion is not subject to a motion to postpone. 
     A motion to reconsider the vote by which the motion is agreed 
     to or disagreed to shall not be in order. If a motion to 
     proceed to the consideration of a joint resolution is agreed 
     to, the joint resolution shall remain the unfinished business 
     until disposed of.
       ``(B) Consideration.--Consideration of a joint resolution, 
     and on all debatable motions and appeals in connection 
     therewith, shall be limited to not more than 10 hours, which 
     shall be divided equally between the majority and minority 
     leaders or their designees. A motion further to limit debate 
     is in order and not debatable. An amendment to a joint 
     resolution, a motion to postpone, or a motion to proceed to 
     the consideration of other business, or a motion to recommit 
     a joint resolution is not in order.
       ``(C) Vote on passage.--If the Senate has voted to proceed 
     to a joint resolution, the vote on passage of the joint 
     resolution shall occur immediately following the conclusion 
     of consideration of the joint resolution, and a single quorum 
     call at the conclusion of the debate if requested in 
     accordance with the rules of the Senate.
       ``(D) Rulings of the chair on procedure.--Appeals from the 
     decisions of the Chair relating to the application of the 
     rules of the Senate, as the case may be, to the procedure 
     relating to a joint resolution shall be decided without 
     debate.
       ``(f) Coordination With Action by Other House.--
       ``(1) In general.--If, before passing a joint resolution 
     relating to a certification under subsection (b)(1), one 
     House receives from the other a joint resolution relating to 
     the same certification--
       ``(A) the joint resolution of the other House shall not be 
     referred to a committee; and
       ``(B) the procedure in the receiving House shall be the 
     same as if no joint resolution had been received from the 
     other House until the vote on passage, when the joint 
     resolution received from the other House shall supplant the 
     joint resolution of the receiving House.
       ``(2) Treatment of joint resolution of other house.--If the 
     Senate fails to introduce or consider a joint resolution 
     under this section relating to a certification under 
     subsection (b)(1), the joint resolution of the House relating 
     to the same certification shall be entitled to expedited 
     floor procedures under this section.
       ``(3) Treatment of companion measures.--If, following 
     passage of a joint resolution in the Senate, the Senate 
     receives the companion measure from the House of 
     Representatives, the companion measure shall not be 
     debatable.
       ``(4) Consideration after passage.--
       ``(A) In general.--If Congress passes a joint resolution, 
     the period beginning on the date the President is presented 
     with the joint resolution and ending on the date the 
     President signs, allows to become law without his signature, 
     or vetoes and returns the joint resolution (but excluding 
     days when either House is not in session) shall be 
     disregarded in computing the calendar day period described in 
     subsection (c).
       ``(B) Veto message.--Debate on a veto message in the Senate 
     under this section shall be 1 hour equally divided between 
     the majority and minority leaders or their designees.
       ``(5) Veto override.--If, within the calendar day period 
     described in subsection (c), Congress overrides a veto of a 
     joint resolution relating to a certification submitted under 
     subsection (b)(1), the United States may not issue any 
     additional debt this chapter.
       ``(g) Rules of House of Representatives and Senate.--This 
     subsection and subsections (a), (d), (e), and (f) are enacted 
     by Congress--
       ``(1) as an exercise of the rulemaking power of the Senate 
     and House of Representatives, respectively, and as such are 
     deemed a part of the rules of each House, respectively, but 
     applicable only with respect to the procedure to be followed 
     in that House in the case of a joint resolution, and they 
     supersede other rules only to the extent that they are 
     inconsistent with such rules; and
       ``(2) with full recognition of the constitutional right of 
     either House to change the rules (so far as relating to the 
     procedure of that House) at any time, in the same manner, and 
     to the same extent as in the case of any other rule of that 
     House.
       ``(h) Debt Defined.--
       ``(1) In general.--For purposes of this section, the term 
     `debt' means the face amount of obligations issued under this 
     chapter 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).
       ``(2) Determination of face amount.--
       ``(A) In general.--For purposes of this section, the 
     current redemption value of an obligation issued on a 
     discount basis and redeemable before maturity at the option 
     of its holder is deemed to be the face amount of the 
     obligation.
       ``(B) Certain obligations not redeemable before maturity.--
     For purposes of this section, the face amount, for any month, 
     of any

[[Page S710]]

     obligation issued on a discount basis that is not redeemable 
     before maturity at the option of the holder of the obligation 
     is an amount equal to the sum of--
       ``(i) the original issue price of the obligation, plus
       ``(ii) the portion of the discount on the obligation 
     attributable to periods before the beginning of such month 
     (as determined under the principles of section 1272(a) of the 
     Internal Revenue Code of 1986 without regard to any 
     exceptions contained in paragraph (2) of such section).''.

     SEC. 3. REPEAL OF EXPIRED PROVISION.

       (a) Repeal.--Section 3101A of title 31, United States Code, 
     is repealed.
       (b) Clerical Amendment.--The table of sections for 
     subchapter I of chapter 31 of title 31, United States Code, 
     is amended by striking the item relating to section 3101A.

     SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS.

       (a) In General.--
       (1) Section 8348 of title 5, United States Code, is amended 
     by striking subsections (j), (k), and (l).
       (2) Section 8438 of title 5, United States Code, is amended 
     by striking subsections (g) and (h).
       (3) Section 14(d)(2)(A) of the Federal Deposit Insurance 
     Act (12 U.S.C. 1824(d)(2)(A)) is amended--
       (A) by striking ``in section 3101(b)'' and inserting 
     ``under section 3101''; and
       (B) by striking ``an obligation to which such limit 
     applies'' and inserting ``debt, as defined in subsection (h) 
     of such section''.
       (b) Savings Provisions.--Notwithstanding the amendments 
     made by paragraphs (1) and (2) of subsection (a)--
       (1) paragraphs (2), (3), and (4) of subsection (j) and 
     subsection (l)(1) of section 8348 of title 5, United States 
     Code, as in effect on the day before the date of enactment of 
     this Act, shall apply to any debt issuance suspension period 
     (as defined under section 8348(j)(5) of such title) that is 
     in effect on the date of enactment of this Act; and
       (2) paragraphs (2), (3), and (4) of subsection (g) and 
     subsection (h)(1) of section 8438 of title 5, United States 
     Code, as in effect on the day before the date of enactment of 
     this Act, shall apply to any debt issuance suspension period 
     (as defined under section 8438(g)(6) of such title) that is 
     in effect on the date of enactment of this Act.

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