H.R. 1529 · 115th Congress
Debt Limit Control and Accountability Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SanfordSponsor6 cosponsors · 6 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill prohibits the Department of the Treasury from using extraordinary measures either to prevent the United States from reaching the statutory debt limit or once the debt limit has been reached.
What it does: CRS summary · Introduced in House · Mar 15, 2017
Debt Limit Control and Accountability Act of 2017
This bill prohibits the Department of the Treasury from using extraordinary measures either to prevent the United States from reaching the statutory debt limit or once the debt limit has been reached.
Under the bill, extraordinary measures are:
- suspending investments of the Thrift Savings Plan G Fund or the Exchange Stabilization Fund,
- suspending the issuance of new securities to the Civil Service Retirement and Disability Fund and Postal Service Retiree Health Benefits Fund,
- redeeming early securities held by the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund,
- suspending the issuance of new State and Local Government Series securities and savings bonds,
- replacing Treasury securities subject to the debt limit with debt issued by the Federal Financing Bank, or
- any other extraordinary actions taken by Treasury to avoid defaulting on the obligations of the United States.
The bill also repeals statutory provisions that established procedures for presidential modification of the debt ceiling.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Debt Limit Control and Accountability Act of 2017
Latest action (Mar 15, 2017): Referred to the House Committee on Ways and Means.
Policy area: Economics and Public Finance · Origin: House · Introduced: Mar 15, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.