US Congress House Bill 1529 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 7-0)
Status: Introduced on March 15 2017 - 25% progression, died in committee
Action: 2017-03-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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.

Debt Limit Control and Accountability Act of 2017

Rep. Mark Sanford [R-SC]	Rep. Mark Meadows [R-NC]	Rep. Thomas Garrett [R-VA]	Rep. Joe Barton [R-TX]
Rep. Raul Labrador [R-ID]	Rep. Ted Yoho [R-FL]	Sen. Ted Budd [R-NC]

Date	Chamber	Action
2017-03-15	House	Referred to the House Committee on Ways and Means.
2017-03-15	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1529/all-info
Text	https://www.congress.gov/115/bills/hr1529/BILLS-115hr1529ih.pdf