HR 1529
115th 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 2017
Introduced: March 15, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 15, 2017
Referred to the House Committee on Ways and Means.
Mar 15, 2017
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1