[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.
____________________