US HB3442 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Republican 36-0)
Status: Engrossed on February 22 2016 - 50% progression, died in committee
Action: 2016-02-22 - Received in the Senate and Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Engrossed) [PDF]

Summary

Debt Management and Fiscal Responsibility Act of 2015 (Sec. 2) This bill requires the Secretary of the Treasury to provide a report to Congress prior to any date on which the Secretary anticipates the public debt will reach the statutory limit. The Secretary must appear before the House Ways and Means Committee and the Senate Finance Committee to submit a report including: historic, current, and projected levels of debt; historic levels of revenue; the drivers and composition of future debt; how the United States will meet debt obligations if the debt limit is raised; reduction measures Treasury intends to take to fund obligations if the debt limit is not raised; and the President's recommendation regarding a balanced budget amendment to the U.S. Constitution. The Secretary must also provide a detailed explanation of: proposals to reduce the debt and a progress report on implementing them; the impact an increased debt limit will have on future spending, debt service, and the position of the U.S. dollar as the international reserve currency; projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid); measures Treasury is taking or intends to take to avoid default, including a plan to publicly disclose the details; and Treasury's capability to pay only principal and interest on the debt if the limit is reached. Treasury must make the information required by this bill available to the public on its website.

Tracking Information

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Title

Debt Management and Fiscal Responsibility Act of 2015

Sponsors


Roll Calls

2016-02-11 - House - On Passage (Y: 267 N: 151 NV: 15 Abs: 0) [PASS]
2016-02-11 - House - On Motion to Recommit with Instructions (Y: 179 N: 238 NV: 16 Abs: 0) [FAIL]
2016-02-11 - House - On Agreeing to the Amendment (Y: 190 N: 227 NV: 16 Abs: 0) [FAIL]
2016-02-11 - House - On Agreeing to the Amendment (Y: 171 N: 245 NV: 17 Abs: 0) [FAIL]
2016-02-11 - House - On Agreeing to the Amendment (Y: 240 N: 176 NV: 17 Abs: 0) [PASS]
2016-02-11 - House - On Agreeing to the Amendment (Y: 184 N: 234 NV: 15 Abs: 0) [FAIL]

History

DateChamberAction
2016-02-22SenateReceived in the Senate and Read twice and referred to the Committee on Finance.
2016-02-11HouseThe Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 3442.
2016-02-11HouseMotion to reconsider laid on the table Agreed to without objection.
2016-02-11HouseOn passage Passed by recorded vote: 267 - 151 (Roll no. 76).
2016-02-11HouseOn motion to recommit with instructions Failed by recorded vote: 179 - 238 (Roll no. 75). (consideration: CR H748)
2016-02-11HouseThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H748)
2016-02-11HouseDEBATE - The House proceeded with 10 minutes of debate on the Doggett motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments to require an analysis of the long-term revenue lost from tax avoidance and evasion resulting from inversions and the exploitation of tax loopholes by businesses and wealthy individuals and the long-term revenue effect of a shrinking middle class.
2016-02-11HouseMr. Doggett moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H747-748; text: CR H747)
2016-02-11HouseThe House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
2016-02-11HouseThe previous question was ordered pursuant to the rule. (consideration: CR H746)
2016-02-11HouseThe House rose from the Committee of the Whole House on the state of the Union to report H.R. 3442.
2016-02-11HouseH.Amdt.941 On agreeing to the Takano amendment (A008) Failed by recorded vote: 190 - 227 (Roll no. 74).
2016-02-11HouseH.Amdt.940 On agreeing to the Grijalva amendment (A007) Failed by recorded vote: 171 - 245 (Roll no. 73).
2016-02-11HouseH.Amdt.938 On agreeing to the Duffy amendment (A005) Agreed to by recorded vote: 240 - 176 (Roll no. 72).
2016-02-11HouseH.Amdt.937 On agreeing to the Kelly (IL) amendment (A004) Failed by recorded vote: 184 - 234 (Roll no. 71).
2016-02-11HousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Takano amendment No. 8, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Takano demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
2016-02-11HouseDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Takano amendment No. 8.
2016-02-11HouseH.Amdt.941 Amendment (A008) offered by Mr. Takano. (consideration: CR H743-744, H746; text: CR H743)
2016-02-11HousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Grijalva amendment No. 7, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Grijavla demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
2016-02-11HouseDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Grijalva amendment No. 7.
2016-02-11HouseH.Amdt.940 Amendment (A007) offered by Mr. Grijalva. (consideration: CR H742-743, H745-746; text: CR H742)
2016-02-11HouseH.Amdt.939 On agreeing to the Messer amendment (A006) Agreed to by voice vote.
2016-02-11HouseDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Messer amendment No. 6.
2016-02-11HouseH.Amdt.939 Amendment (A006) offered by Mr. Messer. (consideration: CR H741-742; text: CR H741)
2016-02-11HousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Duffy amendment No. 5, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Duffy demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
2016-02-11HouseDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Duffy amendment No. 5.
2016-02-11HouseH.Amdt.938 Amendment (A005) offered by Mr. Duffy. (consideration: CR H740-741, H744-745; text: CR H740)
2016-02-11HousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Kelly (IL) amendment No. 4, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Kelly (IL) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
2016-02-11HouseDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Kelly (IL) amendment No. 4.
2016-02-11HouseH.Amdt.937 Amendment (A004) offered by Ms. Kelly (IL). (consideration: CR H739-740, H744; text: CR H739)
2016-02-11HouseH.Amdt.936 On agreeing to the Newhouse amendment (A003) Agreed to by voice vote.
2016-02-11HouseDEBATE - Pursuant to the provisions of H. Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Newhouse amendment No. 3.
2016-02-11HouseH.Amdt.936 Amendment (A003) offered by Mr. Newhouse. (consideration: CR H738-739; text: CR H738)
2016-02-11HouseH.Amdt.935 On agreeing to the Huelskamp amendment (A002) Agreed to by voice vote.
2016-02-11HouseDEBATE - Pursuant to the provisions of H.Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Huelskamp amendment No. 2.
2016-02-11HouseH.Amdt.935 Amendment (A002) offered by Mr. Huelskamp. (consideration: CR H737-738; text: CR H737)
2016-02-11HouseH.Amdt.934 On agreeing to the Grijalva amendment (A001) Agreed to by voice vote.
2016-02-11HouseDEBATE - Pursuant to the provisions of H.Res. 609, the Committee of the Whole proceeded with 10 minutes of debate on the Grijalva amendment No. 1.
2016-02-11HouseH.Amdt.934 Amendment (A001) offered by Mr. Grijalva. (consideration: CR H736; text: CR H736)
2016-02-11HouseGENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3442.
2016-02-11HouseHouse resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 609 and Rule XVIII.
2016-02-11HouseThe Speaker designated the Honorable Bradley Byrne to act as Chairman of the Committee.
2016-02-11HouseResolution provides for consideration of H.R. 3442 and H.R. 3293.
2016-02-11HouseConsidered under the provisions of rule H. Res. 609. (consideration: CR H728-749; text of measure as reported in House: CR H735-736)
2016-02-09HouseRules Committee Resolution H. Res. 609 Reported to House. Resolution provides for consideration of H.R. 3442 and H.R. 3293.
2015-10-07HousePlaced on the Union Calendar, Calendar No. 220.
2015-10-07HouseReported by the Committee on Ways and Means. H. Rept. 114-291.
2015-09-10HouseOrdered to be Reported by the Yeas and Nays: 22 - 14.
2015-09-10HouseCommittee Consideration and Mark-up Session Held.
2015-09-08HouseReferred to the House Committee on Ways and Means.
2015-09-08HouseIntroduced in House

Same As/Similar To

HR609 (Related) 2016-02-10 - Motion to reconsider laid on the table Agreed to without objection.

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