S 1395
118th Congress
Senate
Economics and Public Finance
A bill to temporarily suspend the debt limit through December 31, 2024.
Introduced: May 1, 2023
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2023
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 40.
May 1, 2023
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. (text: CR S1443)
May 1, 2023
Introduced in Senate
Plain-English summary
This bill suspends the federal debt limit through December 31, 2024, and increases the limit on January 1, 2025, to accommodate the obligations issued during the suspension period.
The adjustments to the debt limit for obligations issued during the suspension period are limited to obligations necessary to fund a commitment incurred by the federal government that required payment before January 1, 2025.
What's happening now
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 40.