S. 1713 · 112th Congress
U.S.A. AAA Credit Restoration Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BoxerSponsorNo cosponsors.
U.S.A. AAA Credit Restoration Act - Directs the Secretary of the Treasury, on the same day the President submits an annual budget proposal to Congress, to submit to Congress a message on the public debt limit.
What it does: CRS summary · Introduced in Senate · Oct 13, 2011
U.S.A. AAA Credit Restoration Act - Directs the Secretary of the Treasury, on the same day the President submits an annual budget proposal to Congress, to submit to Congress a message on the public debt limit. Requires the Secretary to: (1) include an estimate of the amount that the public debt limit will need to be increased, if necessary, for the next year based on estimates of federal revenues and mandatory and discretionary expenditures; and (2) publish in the Federal Register the amount of the debt limit necessary to accommodate such requirements.
Allows the proposed debt limit increase to become law unless Congress disapproves.
Sets forth an expedited process for congressional consideration of a joint resolution to disapprove of the Secretary's exercise of authority to increase the debt limit (thereby replacing the current procedure for increasing the debt limit under the congressional budget process).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: U.S.A. AAA Credit Restoration Act
Latest action (Oct 13, 2011): Read twice and referred to the Committee on Finance.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Oct 13, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.