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HR 2185 114th Congress House Economics and Public Finance Budget deficits and national debt Employee benefits and pensions Financial services and investments Government employee pay, benefits, personnel management Government trust funds Health care costs and insurance Postal service Presidents and presidential powers, Vice Presidents Securities State and local finance

Debt Limit Control and Accountability Act of 2015

Introduced: April 30, 2015 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 30, 2015
Referred to the House Committee on Ways and Means.
Apr 30, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Debt Limit Control and Accountability Act of 2015

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.

What's happening now April 30, 2015

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1