H.R. 3526 · 118th Congress
Extraordinary Measures Transparency Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
(Zach) NunnSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Department of the Treasury to report to Congress regarding extraordinary measures used to avoid exceeding the federal debt limit.
What it does: CRS summary · Introduced in House · May 18, 2023
Extraordinary Measures Transparency Act
This bill requires the Department of the Treasury to report to Congress regarding extraordinary measures used to avoid exceeding the federal debt limit.
(The term extraordinary measures refers to a series of actions that Treasury may implement to allow the United States to borrow additional funds without exceeding the debt limit. The measures often include suspensions of debt sales and suspensions or redemptions of investments in certain government funds.)
If Treasury determines that the public debt will reach the limit in 30 days, Treasury must submit a report to Congress that includes
- a description of the extraordinary measures that Treasury intends to use if the debt limit is not raised,
- an estimate of the cost of the measures,
- a projection of how long the measures will fund the federal government, and
- a projection of the administrative cost of taking the measures.
Treasury must also submit specified daily reports to Congress when the measures are being used. After using the measures, Treasury must report to Congress regarding the measures that were used and the administrative cost of the measures.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Extraordinary Measures Transparency Act
Latest action (May 18, 2023): Referred to the House Committee on Ways and Means.
Policy area: Economics and Public Finance · Origin: House · Introduced: May 18, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.