H.R. 3774 · 114th Congress
Protect America's Credit Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PetersSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises the statutory debt limit to: (1) apply the limit only to debt held by the public, and (2) require annual adjustments to the limit to account for increases in the gross domestic product.
What it does: CRS summary · Introduced in House · Oct 20, 2015
Protect America's Credit Act of 2015
This bill revises the statutory debt limit to: (1) apply the limit only to debt held by the public, and (2) require annual adjustments to the limit to account for increases in the gross domestic product.
(Under current law, the debt limit applies to debt held by the public and debt held by government accounts. Debt held by the public consists mainly of securities issued by the Treasury and held by investors. Debt held by the government is debt issued to the federal government's trust funds for programs such as Social Security, Medicare, and military and civil service retirement benefits.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protect America's Credit Act of 2015
Latest action (Oct 20, 2015): Referred to the House Committee on Ways and Means.
Policy area: Economics and Public Finance · Origin: House · Introduced: Oct 20, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.