US HB233 | 2013-2014 | 113th Congress

Status

Sponsorship: Partisan Bill (Democrat 24)
Status: Introduced on January 14 2013 - 25% progression, died in committee
Action: 2013-01-14 - Referred to House Rules
Pending: House Rules Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Authorizes an extension of the presidential authority to modify the public debt ceiling (subject to enactment of a congressional joint resolution of disapproval). Authorizes the Secretary of the Treasury to borrow an additional amount estimated to be sufficient to meet commitments for one year whenever the President certifies to Congress that the public debt subject to limit is within $100 billion of the $16.394 trillion limit and that further borrowing is required to meet existing commitments. Prohibits the debt limit from being raised if, within 50 calendar days after Congress receives that certification, a joint resolution is enacted disapproving the President's exercise of authority with respect to such additional amount. Applies current requirements for expedited consideration of the joint resolution in both houses, with certain exceptions including: the September 14, 2011, termination of the period making it in order in the Senate to consider such a joint resolution; the authorized $400 billion increase in the public debt allowed even though Congress overrides the President's veto of the joint resolution; and the required sequestration ($400 billion reduction in spending) if the President signs the joint resolution, allows it to become law without his signature, or Congress overrides a veto of it.

Tracking Information

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Title

To amend chapter 31 of title 31, United States Code, to provide for an orderly process by which the debt ceiling is increased.

Sponsors


History

DateChamberAction
2013-01-14HouseReferred to House Rules
2013-01-14HouseReferred to House Ways and Means
2013-01-14HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Same As/Similar To

HB3372 (Related) 2013-10-29 - Referred to House Rules

Subjects


US Congress State Sources


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