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S. 5480 118th Congress Senate

End the Threat of Default Act of 2024

Official title: A bill to repeal the debt ceiling, and for other purposes.

Introduced: December 11, 2024 Introduced by: Brian Schatz Democratic · Hawaii See on congress.gov
Economics and Public Finance
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 11, 2024
Read twice and referred to the Committee on Finance.
Dec 11, 2024
Introduced in Senate
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 Latest action December 11, 2024

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

End the Threat of Default Act of 2024

This bill repeals the statutory debt limit. (The debt limit is the amount of money that the Department of the Treasury may borrow to fund federal operations.)

 Related & companion bills 2
  • HR 415 End the Threat of Default Act
  • S 1190 End the Threat of Default Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 16
All 16 Democratic 15 Independent 1
D
Bennet, Michael F.
Colorado · Dec 11, 2024
 D
Blumenthal, Richard
Connecticut · Dec 11, 2024
 D
Durbin, Richard J.
Illinois · Dec 11, 2024
 D
Fetterman, John
Pennsylvania · Dec 11, 2024
 D
Hirono, Mazie K.
Hawaii · Dec 11, 2024
 I
King, Angus S., Jr.
Maine · Dec 11, 2024
 D
Luján, Ben Ray
New Mexico · Dec 11, 2024
 D
Markey, Edward J.
Massachusetts · Dec 11, 2024
 D
Murphy, Christopher
Connecticut · Dec 11, 2024
 D
Reed, Jack
Rhode Island · Dec 11, 2024
 D
Shaheen, Jeanne
New Hampshire · Dec 11, 2024
 D
Smith, Tina
Minnesota · Dec 11, 2024
 D
Van Hollen, Chris
Maryland · Dec 11, 2024
 D
Warren, Elizabeth
Massachusetts · Dec 11, 2024
 D
Welch, Peter
Vermont · Dec 11, 2024
 D
Whitehouse, Sheldon
Rhode Island · Dec 11, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S. 5480: End the Threat of Default Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-S-5480/
MLA
"S. 5480: End the Threat of Default Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-5480/.
Bluebook (legal)
S. 5480, 118th Cong. (2026), https://openamerica.io/bill/118-S-5480/.
Markdown link
[S. 5480: End the Threat of Default Act of 2024](https://openamerica.io/bill/118-S-5480/)
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