[Congressional Record Volume 169, Number 95 (Thursday, June 1, 2023)]
[Senate]
[Page S1933]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 123. Mr. GRAHAM submitted an amendment intended to be proposed by 
him to the bill H.R. 3746, to provide for a responsible increase to the 
debt ceiling; which was ordered to lie on the table; as follows:

       Strike all after the enacting clause and insert the 
     following:

     SECTION 1. TEMPORARY EXTENSION OF PUBLIC DEBT LIMIT.

       (a) In General.--Section 3101(b) of title 31, United States 
     Code, shall not apply for the period--
       (1) beginning on the date of enactment of this Act; and
       (2) ending on the date that is 90 days after the date of 
     enactment of this Act.
       (b) Special Rule Relating to Obligations Issued During 
     Extension Period.--Effective on the day after the date 
     described in subsection (a)(2), 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 the date described 
     in subsection (a)(2); exceeds
       (2) the face amount of such obligations outstanding on the 
     date of enactment of this Act.
       (c) Extension Limited to Necessary Obligations.--An 
     obligation shall not be taken into account under subsection 
     (b)(1) unless the issuance of such obligation was necessary 
     to fund a commitment incurred pursuant to law by the Federal 
     Government that required payment on or before the date 
     described in subsection (a)(2).
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